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Sensex in red at 26,110; Cairn India loses 5% in early trade

Thursday, 24 July 2014 - 10:40am IST | Place: Mumbai | Agency: PTI

The benchmark BSE index Sensex today retreated from record high by losing over 25 points in early trade as investors booked profits in recent outperformers, mainly capital goods, oil and gas and power sector stocks.

The 30-share barometer, which had gained 1,140.35 points in the past seven sessions, shed 25.91 points, or 0.10 per cent, to 26,121.42. The gauge had closed at a new record high of 26,147.33 yesterday. On similar lines, the broad-based National Stock Exchange index Nifty fell by 12.65 points, or 0.16 per cent, to 7,783.10.

The biggest gainers in the markets are Bank of Baroda, Tata Steel, Tech Mahindra, Jindal Steel and HCL Tech. The biggest losers are Cairn India, Grasim, GAIL and Tata Motors. 

Yesterday, it had closed at a life-time high of 7,795.75. Brokers said profit-booking at record level by participants, who had been accumulating stocks of bluechip companies on the back of encouraging first quarter earnings and positive economic data, snapped seven-session winning streak. They said a better trend on other Asian markets, however, limited the losses.

In the Asian region, Hong Kong's Hang Seng index rose by 0.45 per cent, while Japan's Nikkei Index edged higher by 0.11 per cent. The US Dow Jones Industrial Average ended 0.16 per cent lower yesterday. 

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