Sensex falls 129 points in early trade on profit booking by investors

The benchmark BSE Sensex fell almost 129 points in early trade on Monday due to profit booking by investors after recent strong gains.

The 30-share barometer declined 128.72 points, or 0.43 per cent, to 29,520.27 points, with shares of IT, Teck, metal, banking, oil & gas and capital goods trading with losses.

The index had gained 250.88 points in the last two sessions.

Also, the NSE Nifty fell by 31.55 points, or 0.34 per cent, to 9,128.50.

Brokers said investors booked profits after recent strong rally in stocks.

The Sensex had rallied by 702.76 points to 29,648.99 in the last week after the BJP’s big win in the key state of Uttar Pradesh. The Nifty gained 225.50 points, or 2.52 per cent to finish new closing peak at 9,160.05.

In the Asian region, Japan’s Nikkei fell 0.35 per cent and China’s Shanghai Composite index was down 0.02 per cent while Hong Kong’s Hang Seng rose by 0.53 per cent in early trade on Monday.

The Dow Jones Industrial Average ended 0.10 per cent lower on Friday.