Amid heavy profit booking after the recent rally, the benchmark Sensex fell for the first time in four days from its record closing. Sensex declined by 71 points to 21,255.26 while the broader index Nifty closed at 6,332.85 after losing 31.05 points on Tuesday. Analyst said that markets came under pressure as institutions booked their profits after the recent rally.
As reported by The Pioneer on December 9, analysts were predicting that markets would not be able to sustain at higher levels and had advised retail investors to book profits before the markets correct.
While markets corrected, rupee extended gains for the fifth straight session and closed nine paise higher at Rs 61.04 per dollar on sales of the US currency by exporters and banks. Some weakness in the dollar overseas helped the rupee rise to a four-month high, while a fall in local equities capped the gains, a forex dealer said.