New Delhi, India (BBN)-The BSE benchmark Sensex edged lower in the morning deals on the back of profit-booking after yesterday’s 500 points up move.
The 50-share Nifty which closed above its crucial psychological level of 8,300 was also trading with a negative bias and was trading near 8,300 levels, reports NDTV.
The Indian benchmark indices bounced back yesterday after falling for 10 trading sessions out of 12 on the back of short covering and some amount of FII buying.
Meanwhile, selling pressure was visible in FMCG, banking, power and infrastructure stocks.
Zee Entertainment was the top Nifty loser. The stock fell nearly 2 per cent to Rs 315. Bharti Airtel, Cipla, Mahindra & Mahindra, Bajaj Auto, Power Grid, ITC, BHEL, HDFC, HDFC Bank, State Bank of India and Infosys were also seen dragging the Nifty lower.
On the other hand, TCS, Kotak Mahindra Bank, ONGC, L&T, Tata Motors and Tata Steel were among the gainers.
The broader markets were trading marginally higher. The BSE mid-cap and small-cap indices were up 0.1 and 0.2 per cent each.
At 9:33 a.m., the Sensex was down 59 points at 27,431 and the Nifty fell 23 points to 8,309.