BSE Sensex fell over 62 points in early trade

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Mumbai, Feb 24: The benchmark BSE Sensex fell over 62 points in early trade today due to profit-booking by funds and retail investors after previous session gains amid a weak trend in other Asian markets.

The 30-share index, which had ended 164.11 points higher on Friday, slipped by 62.09 points, or 0.30 per cent, to 20,638.66 in early trade, with stocks of PSUs, banking, metal and IT sectors leading the fall. Also, the National Stock Exchange index Nifty shed 13.25 points, or 0.22 per cent, to 6,142.20. Brokers said besides a weak trend in the Asian region, profit-booking by participants influenced the trading sentiment here.

Bucking the trend, power sector stocks such as Tata Power and Adani Power were trading in the positive zone with gains up to 5.21 per cent after reports that the electricity regulator allowed these companies to raise tariffs. Reliance Power was also trading 1.43 per cent higher.

Meanwhile, among other Asian markets, Hong Kong’s Hang Seng index declined 0.42 per cent while Japan’s Nikkei fell 0.45 per cent. The US Dow Jones Industrial Average ended 0.19 per cent lower in Friday’s trade. PTI