Sensex down 61 pts on profit-booking

Sensex down

Snapping a nine-day long rally, the BSE benchmark Sensex today fell by over 61 points in early trade as funds and retail investors indulged in profit-booking at prevailing higher levels amid weak trend in Asian markets.

The 30-share index fell by 61.35 points, or 0.30 per cent, to 18,480.96 with stocks of metal, auto and banking sectors leading the fall.

Sensex had gained over 1,230 points in the previous nine sessions to touch 14-month high on the back of broad-based buying by funds and retail investors, triggered by the government decisions to accelerate economic reforms by allowing FDI in organised retail and aviation, among others.

Similarly, the wide-based National Stock Exchange index Nifty declined by 23.55 points, or 0.41 per cent, to 5,586.45.

Brokers said besides profit-booking by speculators after recent significant gains, a weak trend on Asian bourses mainly influenced the trading sentiment here.

In Asian region, Hong Kong's Hang Seng index fell by 0.17 per cent, while Japan's Nikkei Index shed 0.04 per cent in the morning trade today.

The US Dow Jones Industrial Average had ended 0.30 per cent lower in yesterday's trade.

Indian stocks to watch-Sept 18

GLOBAL MARKETS

Nifty futures on Singapore Exchange were up 0.1 percent, while the MSCI-Asia Pacific index excluding Japan was down 0.3 percent.

U.S. stocks fell on Monday in light trading after a rally that drove the S&P 500 last week to its highest level in nearly five years and as falling oil prices hit energy shares.

Asian shares retreated from four-month highs on Tuesday as markets paused from last week's rallies, calculating the impact on growth from the Federal Reserve's aggressive stimulus and eyeing whether Spain will request a bailout to ease its fiscal strains.

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