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Sensex off record highs; falls 58 points in early trade

Snapping its bull-run for eight consecutive sessions, the benchmark BSE Sensex fell over 58 points in early trade on Wednesday as participants locked-in gains at current levels amid a weak trend overseas.

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Snapping its bull-run for eight consecutive sessions, the benchmark BSE Sensex fell over 58 points in early trade on Wednesday as participants locked-in gains at current levels amid a weak trend overseas.

Besides, profit-booking in stocks of realty, auto, metal, banking, capital goods and oil & gas sectors, negatively impacted trading sentiments.

The 30-share barometer fell by 58.56 points, or 0.19%, to 29,512.48. The gauge had rallied by 2,224.22 points in the previous eight straight sessions on the back of sustained foreign fund inflows.

On Tuesday, the gauge had closed at a fresh lifetime peak of 29,571.04 after climbing to a new intra-day record-high of 29,618.59 as investors cheered the strengthening of Indo-US trade ties.

The National Stock Exchange index Nifty also slipped from record-high and shed 6.10 points, or 0.07% to 8,904.40. It closed at an all-time high of 8,910.50 after recording a new intra-day peak of 8,925.05 in Tuesda's
trade.

Brokers said emergence of profit-booking by cautious investors in recent gainers at record levels ahead of tomorrow's monthly expiry in the derivatives segment mainly pulled down the key indices from their peaks.

Besides, a weakening trend at other Asian markets following yesterday's heavy sell-off in US markets on poor earnings reports negatively impacted trading sentiments in Mumbai, they said.

Among other Asian markets, Japan's Nikkei moved down by 0.86%, while Hong Kong's Hang Seng fell 0.01% in early trade today.

The US Dow Jones Industrial Average ended 1.65% lower in Tuesday's trade.

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