Mumbai, Jul 18: The benchmark BSE Sensex fell over 45 points in early trade today as funds and retail investors booked profits after three days of gains, even as TCS shares rallied nearly 4 per cent after encouraging June quarter results amid a weak global trend.
The 30-share index declined by 45.82 points, or 0.17 per cent, to 25,515.34 with realty, power, PSU and metal sector indices leading the fall. The index had gained 554.44 points in the previous three sessions.
The National Stock Exchange Nifty moved down by 16.85 points, or 0.22 per cent, to 7,623.60. Brokers said besides profit-booking by speculators after the recent rally, a weak global trend due to geopolitical tensions arising out of downing of Malaysian Airlines plane in Ukraine contributed to the decline.
They said, however, surge in IT sector stocks averted any major fall. Shares of Tata Consultancy Services, India’s largest IT company, climbed 3.52 per cent to Rs 2,464.95 after it posted a 45 per cent jump in consolidated net profit at Rs 5,568 crore for the first quarter ended June 2014.
Buying activity also emerged in other IT stocks such as Wipro and Infosys which rose up to 2.53 per cent. Among other Asian markets, Hong Kong’s Hang Seng was down 0.87 per cent while Japan’s Nikkei fell 1.28 per cent in early trade today. The US Dow Jones Industrial Average ended 0.94 per cent lower in yesterday’s trade.