Benchmark indices Sensex and Nifty fell from day's high to trade in red on October 16 owing to various factors, including profit booking.
At 9:34 am, the Sensex was down 240.17 points or 0.32% at 74,075.44, and the Nifty was down 54.1 points or 0.24% at 22,943.25. About 1,586 shares advanced, 1,437 shares declined, and 152 shares were unchanged.
Markets saw profit booking after benchmarks Sensex and Nifty crossed key levels of 74,500 and 23,050, respectively. The benchmarks posted their biggest single-day gains in four months in the previous session on a rebound in the global AI trade and earnings-driven moves.
India VIX, the volatility gauge, rose nearly 3% to 14.42 on October 16, which indicates possibility of short-team weakness in markets.
Nifty needs to decisively cross 23,050 for further bullishness to emerge in the markets, said analysts.