Markets decline in early trade on profit-taking after record rally
The Hindu
Benchmark equity indices decline after record highs, with Sensex down 90.8 points and Nifty dipping 26.9 points.
Benchmark equity indices declined in early trade on Tuesday after surging to record high levels in the previous trading session, amid profit-taking and sluggish trends from the global markets.
The 30-share BSE Sensex declined 90.8 points to 82,897.98. The NSE Nifty dipped 26.9 points to 25,356.85.
From the 30 Sensex firms, Tata Motors, Tata Consultancy Services, Maruti, Bajaj Finserv, Tata Steel and Adani Ports were the biggest laggards.
Hindustan Unilever, NTPC, Nestle and ICICI Bank were among the gainers.
In Asian markets, Tokyo and Shanghai were trading lower while Hong Kong quoted with gains.
The US markets ended mostly higher on Monday.
"Globally equity markets were flat yesterday signalling a wait and watch mood in anticipation of the Fed rate action tomorrow," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
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