Sensex down 83 points in early trade on profit-booking

TIL Desk/Business/Mumbai-Ignoring positive Asian cues, market benchmark BSE Sensex fell by 83 points in early trade today on profit-booking by investors in recent gainers. Sentiment remained cautious ahead of the UK referendum on whether to stay in the European Union due on Thursday. The 30-share barometer declined by 82.52 points or 0.31 per cent to 26,784.40 in early trade.

The index had risen 341.46 points in the previous two days after the government unleashed a new wave of FDI reforms and Brexit worries eased. Sectoral indices led by banking, capital goods, FMCG, teck and consumer durables were trading in the negative zone, falling up to 0.44 per cent. Also, the NSE Nifty was trading lower by 20.80 points or 0.25 per cent at 8,217.70.40 in early trade.

Brokers said profit-booking in recent outperformers mainly led to fall in Sensex, however, a firm trend in other Asian markets capped the losses. Hong Kong’s Hang Seng was up 0.42 per cent while Shanghai Composite was quoting 0.30 per cent higher in early trade today. Japan’s Nikkei gained 0.51 per cent. The Dow Jones Industrial Average ended 0.73 per cent higher in yesterday’s trade.