Mumbai: Retreating from its two-month high, the benchmark Sensex on Tuesday recorded its first drop in three sessions, falling over 58 points in a highly volatile trade due to profit-booking in metal, oil and gas and pharma sector stocks amid a mixed trend in the global market.
The gauge after opening a tad higher quickly slipped into negative terrain following profit-booking in recent gainers and touched a low of 27,216.40. However, it staged a comeback temporarily to hit a high of 27,432.07 during mid-session.
Soon, profit-booking resurfaced which ate into the gains and took the benchmark back to the negative zone, which closed down 58.09 points, or 0.21 per cent, at 27,306.83. The index had risen over 585 points in the past three sessions. The 50-share NSE Nifty ended down 13.40 points, or 0.16 per cent, at 8,261.65 after shuttling between 8,294.05 and 8,229.20.
In the previous three sessions, the markets rose on the back of continued foreign fund inflows and a mixed bag of earnings by blue-chips so far.
Of the 30-pack Sensex, 23 ended with losses and 7 finished higher. Investors after remaining buyers in the past three sessions opted to book profit in heavy-weight stocks, brokers said. —PTI