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A firming trend on other Asian bourses in tandem with overnight gains in the US capped the losses

THE BSE benchmark Sensex has fallen by over 98 points in the opening trade as participants booked profits registered during yesterday’s (November 28) rally in the domestic market.

However, a firming trend on other Asian bourses, in tandem with overnight gains in the US, capped the losses.

The 30-share barometer, which surged by 471.70 points in the previous session has declined by 98.37 points or 0.61 per cent to 16,068.76 in the opening trade.

The wide-based National stock Exchange Nifty index also followed suit, declining by 20.60 points, or 0.42 per cent to 4,830.70.

Oil and gas, information technology, capital goods and auto stocks led the decline.

Brokers said that a fresh bout of selling to cash in on the recovery in the equity market has mainly led to the decline in the benchmark indices this morning.

They also said that mounting opposition to the government`s move to permit foreign direct investment (FDI) in the multi-brand retail sector also dampened the trading sentiment to some extent.

Meanwhile, in the Asia region, Hong Kong`s Hang Seng index was up by 0.39 per cent and Japan`s Nikkei by 1.01 per cent in the morning trade.

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