Profit booking drags Sensex 302 points down in early trade

Mumbai: The benchmark BSE Sensex fell over 302 points in early trade on Thursday to slip below the 27,000 level as stocks of banking, realty, healthcare, IT, metal and auto companies succumbed to profit booking by speculators, giving up most of Wednesday’s gains amid a mixed trend at other Asian bourses.

The 30-share index slipped below the 27,000 mark by falling 302.48 points, or 1.10%, to 26,948.62. The gauge had gained 373.62 points in the previous session.

In a similar fashion, the NSE index Nifty dipped below the 8,200-mark by losing 98.15 points, or 1.19%, to 8,137.30.

Brokers said profit-booking by participants in stocks that recorded handsome gains in Wednesday’s trade and a mixed trend at other Asian markets tracking overnight losses at US markets following a disappointing retail sales report dampened sentiment.

Among other Asian markets, Hong Kong Hang Seng was up 0.19% while Japan’s Nikkie shed 0.55% in early trade on Thursday.

The US Dow Jones Industrial Average ended 0.04% lower in Wednesday’s trade.

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