Sensex down 16 points in early trade on profit-booking

The benchmark BSE Sensex fell over 16 points in early trade today on selective selling by funds and retail investors amidst mixed global cues.

The 30-share barometer, which had gained 33.40 points in yesterday's volatile session, moved down by 16.29 points, or 0.06 per cent, to 26,614.22, led by weakness in banking, oil & gas and FMCG sector stocks.

Similarly, the National Stock Exchange index Nifty fell 8.05 points, or 0.10 per cent, to 7,956.75.

Brokers said apart from profit-booking by speculators after yesterday's gains, capital outflows by foreign funds and a mixed trend in overseas markets, influenced sentiments here.

Besides, cautious approach by participants in view of a holiday-shortened week as markets will remain closed on Thursday and Friday for Mahatma Gandhi Jayanthi and Dussehra, respectively, also cast its shadow, they said.

Among other Asian bourses, Japan's Nikkei was trading 0.26 per cent higher in early trade today, while Hong Kong's financial markets are closed for public holiday.

The US Dow Jones Industrial Average ended 0.17 per cent lower in yesterday's trade.