Sensex fails to hold gains; down 116 points in afternoon trade

The benchmark BSE Sensex failed to hold its initial gains and fell over 116 points at 1400 hours after the country's exports dipped 3.67 per cent in February amid profit-booking.
After rising to 22,018.52 in morning trade, the Sensex fell back to trade lower by 116.06 points, or 0.53 per cent, to 21,818.77 at 1400 hours.
Selling in metals, FMCG, capital goods, healthcare and oil & gas sector stcoks dragged down the key indices from their record highs.
Meanwhile, the country's exports declined 3.67 per cent to USD 25.68 billion in February. Imports fell 17.09 per cent to USD 33.81 billion, resulting in a trade deficit of USD 8.13 billion.

Similarly, the National Stock Exchange index Nifty declined by 27.05 pints, or 0.41 per cent, to 6,510.20 after hitting an all-time high of 6,562.85 in early trade.
The 30-share Sensex had gained 988 points in the previous five sessions.