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Market feels profit-booking heat, Nifty slips below 8,000-mark

 The Hawk |  2015-06-16 07:27:29.0  0  Comments

Mumbai: The benchmark BSE Sensex slipped over 85 points in early trade Tuesday as participants booked profits after two sessions of gains amid sustained capital outflows and a weak trend at other Asian markets. The 30-share index was trading lower by 85.51 points, or 0.32 percent, at 26,501.04 as banking, oil & gas, capital goods, PSU and IT sector stocks succumbed to profit-booking. The gauge had advanced 215.57 points in the previous two sessions on strong factory output data and steady inflation. Similarly, the Nifty slipped below the 8,000 mark by falling 35.45 points, or 0.44 percent, at 7,978.45. Brokers said a sell-off in global equities as Greece struggles to find a debt reforms compromise with its creditors, fueling fears of a default and exit from the euro zone, contributed to the slide. Among other Asian markets, Hong Kong's Hang Seng was down 0.49 percent while Japan's Nikkei shed 0.63 percent in early trade today. The US Dow Jones Industrial Average ended 0.60 percent down in yesterday's trade. PTI

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