File photo of Bombay Stock Exchange.
Mumbai: After Wednesday’s strong momentum, powered by the Budget proposals, the benchmark BSE Sensex fell about 51 points in initial trading on Thursday due to a rush to take profit amid weak Asia cues.
The NSE Nifty broke below the key 8,700-mark.
The 30-share BSE index dropped 50.61 points, or 0.18 percent, to 28,091.03, with metal, auto, capital goods, IT and realty stocks feeling the squeeze.
The gauge had rallied 486 points on Wednesday, spurred by a series of market-friendly budget moves.
The NSE Nifty went below the 8,700-mark by falling 21.20 points, or 0.24 percent, to trade at 8,695.20.
A weak trend in Asia came as a dampener, traders said.
With the Budget out of the way, the focus turns to RBI’s monetary policy to be released next week, they added.
Hong Kong’s Hang Seng was down 0.52 percent while Japan’s Nikkei shed 0.25 percent in early trade on Wednesday. The Chinese market is closed for a public holiday.
The US Dow Jones Industrial Average, however, ended 0.14 percent higher on Wednesday.