Sensex drops below 26k, down 220 pts in early trade
Mumbai: The benchmark BSE Sensex sank over 220 points to fall below the 26,000-level in early trade today due to profit-booking by investors after recent gains amid mixed Asian cues.
The 30-share barometer plunged 220.24 points, or 0.84 per cent, to 25,998.67 in early trade.
The index had risen by 512.98 points in the previous two sessions on rate cut hopes after the US Fed decided to hold rates.
All the sectoral indices led by metal, banking and realty were trading in the negative zone, falling up to 1.01 per cent.
Also, the NSE Nifty was trading lower by 54.45 points, or 0.68 per cent, at 7,927.45 in early trade.
Apart from profit-booking in recent gainers, brokers said, a mixed trend at other Asian markets mainly pushed the indices down.
Hong Kong’s Hang Seng was down 1.40 per cent while Shanghai Composite was quoting 0.53 per cent higher in early trade today. Financial markets in Japan are closed from Monday to Wednesday for a public holiday.
The Dow Jones Industrial Average ended 1.74 per cent lower in Friday’s trade.