Profit booking in the stock market after record rise! Sensex slipped 90 points

Benchmark equity indices Sensex and Nifty declined in early trade on Tuesday after hitting record all-time highs in the previous trading session.

The market is witnessing a decline due to profit booking amid weakness in global markets. Also, investors are adopting a cautious stance ahead of the Federal Reserve’s meeting on interest rates on Wednesday.

The 30-share BSE Sensex fell 90.8 points to 82,897.98 this morning. Similarly, the NSE Nifty also fell 26.9 points to 25,356.85.

These stocks fell

Among the 30 Sensex companies, the shares of Tata Motors, Tata Consultancy Services, Maruti, Bajaj Finserv, Tata Steel and Adani Ports are seeing the biggest decline.

These stocks are rising

On the other hand, shares of Hindustan Unilever, NTPC, Nestle and ICICI Bank are trading in the green.

Investors also keep an eye on inflation and manufacturing data

Additionally, investors in India will keep an eye on the data release of August import and export data as well as Wholesale Price Index (WPI) inflation and manufacturing data for August.

What is the state of the global markets?

In Asian markets, Japan’s Tokyo and China’s Shanghai Composite were trading with a decline while Hong Kong was trading with a gain. Meanwhile, the US stock market closed with gains on Monday.

How was the market movement on Monday?

The 30-share BSE Sensex on Monday rose 97.84 points, or 0.12 per cent, to close at an all-time high of 82,988.78. The NSE Nifty rose 27.25 points, or 0.11 per cent, to close at 25,383.75.

Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 1,634.98 crore in Monday’s session, while domestic institutional investors (DIIs) bought shares worth Rs 754.09 crore.