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Sensex falls from record high on profit-booking, down 160 points

Tuesday, 27 May 2014 - 10:24am IST | Agency: PTI

The benchmark BSE index Sensex today retreated from record high by losing over 160 points in early trade as cautious investors booked profits in recent outperformers mainly power and PSU sector stocks.

The 30-share barometer, which had gained over 418.86 points in the past three sessions, shed 160.88 points, or 0.65%, to 24,556. The gauge had closed at a new record high of 24,716.88 in yesterday's highly volatile trade. On similar lines, the broad-based National Stock Exchange index Nifty fell by 22.35 points, or 0.30%, to 7,336.70. 

Brokers said profit-booking at record level by participants who had created positions, in the wake of the Narendra Modi-led NDA coming to power, snapped record-setting spree but narrowing current account deficit at 1.7% of GDP in FY'14 from 4.7% in FY'13 limited the losses. They said a mixed trend on other Asian markets too influenced trading sentiment here.

In the Asian region, Hong Kong's Hang Seng index fell by 0.09%, while Japan's Nikkei Index edged higher by 0.87%. The US Dow Jones Industrial Average ended 0.38% higher yesterday.


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