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Sensex slips from record high; down 47 points in early trade

Wednesday, 21 May 2014 - 9:57am IST | Agency: PTI

The BSE benchmark index Sensex today retreated from record by losing almost 47 points in early trade on profit-booking by speculators in oil and gas, PSUs and banking stocks, amid a weak trend in the global markets.

The 30-share barometer, which had gained over 562 points in the past four sessions after the BJP-led NDA swept the polls, shed 46.88 points, or 0.19%, to 24,330.00. On similar lines, the broad-based National Stock Exchange index Nifty fell by 12.80 points, or 0.18%, to 7,262.70.

Brokers said besides booking of profits by participants amid pause in buying by funds at prevailing record levels, snapped four-session winning streak, which took key indices to historic highs. The BSE Sensex and NSE Nifty climbed to a lifetime high of 25,375.63 and 7,563.50 on May 16. Besides, a weakening trend on Asian bourses following overnight losses on the US market, influenced the sentiment, they said.

In the Asian region, Hong Kong's Hang Seng index fell by 0.52%, while Japan's Nikkei Index edged lower by 0.75%. The US Dow Jones Industrial Average ended 0.83% lower yesterday.

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