Sensex down 48 points in early trade

The Bombay Stock Exchange benchmark Sens*x fell by 48 points in early trade on Wednesday as investors sold shares to book profits amid weak global cues.

The 30-share index fell by 48.21 points to 17,174.80 points. The barometer had lost 103 points on Tuesday.

The wide-based National Stock Exchange index Nifty dipped by 21.25 points to 5,093.20 points.

Brokers said markets fell on continued profit-taking by funds and general investors.

Weak trends in other Asian markets after overnight losses in US markets on poor housing data also dampened the trading sentiments in Mumbai, they added.

Stocks of metals, banking and capital goods, which had recorded handsome gains in the recent run-up, attracted profit-taking.

Tata steel fell by 0.70 per cent to Rs 571.25, Sterlite Industries by 0.44 per cent to Rs 831.20, SBI by 0.74 per cent to Rs 2,447, ICICI Bank by 0.96 per cent to Rs 935.20, HDFC Bank by 0.25 per cent to Rs 1,683.50 and BHEL by 1.07 per cent to Rs 2,441.90.

The Hong Kong's Hang Seng was down 0.27 per cent, while Japan's Nikkei shed 0.11 per cent in the morning trade.

The US Dow Jones Industrial Average ended 0.50 per cent down on Tuesday.