Sensex dips below 27K-level, falls 166 points on Asian cues

Sensex dipsMumbai: The benchmark BSE Sensex dipped below the 27k-level by falling over 166 points in early trade on Monday as funds and retail investors engaged in reducing positions amid a weak trend on other Asian bourses.

The 30-share barometer, which shed 21.79 points in the previous session, fell by 166.32 points, or 0.61 percent, to slip below the 27,000-mark to 26,924.10.

Stocks of realty, capital goods, metal, auto, power and banking sectors declined due to profit-booking.

Similarly, the National Stock Exchange index Nifty fell below the 8,100-level by declining 56.65 points, or 0.69 percent, to 8,064.80.

Brokers said increased selling by funds and retail investors in the recent out-performers amid a subdued trend at other Asian bourses on profit-taking, mainly dampened trading sentiment.

Among other Asian markets, Japan's Nikkei Index was down by 0.81 percent, while Hong Kong's Hang Seng index shed 1.34 percent in early trade.

The US Dow Jones Industrial Average, however, ended 0.08 percent higher in Friday's trade.--PTI