After witnessing tremendous rise on a daily basis, sensex and Nifty dropped in morning trade on Tuesday. The 30 shares BSE benchmark index fell as much as 248.85 points to hit an intraday low of 36,034.40 while Nifty lost 88.3 points to touch an intraday low of 11,042.10.
The Sensex had gained 232.81 points to close at a new peak of 36,283.25 after scaling an all-time intraday high of 36,443.98 in Monday’s trade while Nifty had logged a record closing high of 11,130.40 points on Monday.
Brokers said that apart from profit-booking at record levels by participants, a weak trend in other Asian markets following overnight losses at Wall Street hurt trading sentiment.
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Asian Paint, Adani Ports, ICICI Bank, Coal India, Wipro, Dr Reddy’s, Tata Steel, L&T, Power Grid, TCS and Kotak Bank were major losers that dragged both the key indices down from their record highs.
Meanwhile, foreign portfolio investors bought shares worth a net of Rs. 291.86 crore, while domestic institutional investors made purchases to the tune of Rs. 90.08 on Monday, provisional data showed.
Most Asian markets were lower in their opening trade.