Sensex tumbles 88 points on profit-booking, global cues

Mumbai: Market benchmark BSE Sensex stretched its losses to the second day today, shedding over 88 points in early trade on sustained profit-booking by investors after recent gains.

Besides, a weak trend in other Asian bourses after a broad global rally, weighed on the trading sentiments here.

The 30-share Sensex slumped further by 88.05 points, or 0.30 percent, to 28,751.74 with FMCG, IT, technology, power, bank, auto and capital goods stocks declining by up to 0.83 percent.

The gauge lost 144.70 points in the previous session.

The NSE Nifty fell by 19.80 points, or 0.22 percent, to 8,879.95.

Brokers said investors took to profit-booking after recent rally and trading sentiments remained down amid losses in global markets.

In other Asian markets, Hong Kong's Hang Seng index was down 0.49 percent while Japan's Nikkei shed 0.14 percent in early trade today. Shanghai Composite Index was marginally down by 0.32 percent.

The US Dow Jones fell 0.53 percent yesterday.