Home / Markets / News / Markets down on profit-booking; Sensex falls 695 pts, Nifty ends at 12,858

Markets down on profit-booking; Sensex falls 695 pts, Nifty ends at 12,858

Before Wednesday's fall, the benchmark indices had surged 12 per cent in November, underpinned by record buying by foreign portfolio investors

People walk past the Bombay Stock Exchange (BSE) building in Mumbai. Photo: Reuters

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On Wednesday, concerns about a challenging economic outlook amid the pandemic and restrictions to curb surging coronavirus infections led to profit-booking across the counters.

Sundar Sethuraman Thiruvananthapuram

3 min read Last Updated : Nov 26 2020 | 12:32 AM IST

The benchmark indices plunged on Wednesday after hitting fresh record highs in the morning session amid profit booking and concerns about valuations.

The benchmark Sensex fell 695 points, or 1.6 per cent, and ended the session at 43,828. It slipped nearly 1,000 points from the intra-day high of 44,825. The Nifty50 fell 196 points, or 1.5 per cent, to end the session at 12,858. It had climbed to 13,146 intra-day. Analysts said that investors chose to take money off the table, citing overbought markets and a cautious approach ahead of derivatives expiry.

“It’s normal to see an intermediate dip in

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