Sensex trips 72 points on profit-booking, global cues

The benchmark Sensex fell almost 72 points and the NSE Nifty slipped below the 7,900-mark in early trade today as investors took profits in recent gainers amid weak Asian cues.

Investors remained cautious as they looked forward to earnings show of blue-chip companies, including Reliance Industries, which is set to release its numbers after trading hours today.

The 30-share barometer declined 72.01 points, or 0.28 per cent, to 25,808.37, with sectoral indices led by consumer durables, capital goods, healthcare, banking, IT and FMCG bringing about the fall.

The index had risen about 1,207 points in the previous six sessions.

Also, the NSE Nifty cracked below the crucial 7,900-level by falling 24.25 points, or 0.31 per cent, at 7,887.80.

Equity brokers said that apart from profit-booking in recent gainers, a weak trend in Asia following overnight losses in New York and Europe is mainly responsible for the subdued state of affairs here.

Reliance Industries was trading higher by 0.27 per cent at Rs 1,043.70 ahead of its fourth quarter earnings.

Shares of Tata Steel also showed some strength and gained 2.05 per cent at Rs 361.65 after the UK government yesterday announced its willingness to acquire 25 per cent stake in Tata Steel’s UK business to support its sale and help salvage jobs.

In the Asian region, Shanghai Composite was quoting 0.84 per cent lower while Hong Kong’s Hang Seng shed 1.01 per cent in early sessions. Japan’s Nikkei was down 0.09 per cent.

The Dow Jones Industrial Average ended 0.63 per cent higher in yesterday’s trade.