Sensex tumbles 88 pts on profit-booking, global cues

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 per cent, to 28,751.74 with FMCG, IT, technology, power, bank, auto and capital goods stocks declining by up to 0.83 per cent.

The gauge lost 144.70 points in the previous session.

The NSE Nifty fell by 19.80 points, or 0.22 per cent, 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 per cent while Japan's Nikkei shed 0.14 per cent in early trade today. Shanghai Composite Index was marginally down by 0.32 per cent.

The US Dow Jones fell 0.53 per cent yesterday.