Sensex falls 150 pts, Nifty holds 9550; Sun Pharma, Tech Mah tank 8%

Equity benchmarks have seen correction in early trade Monday due to profit booking after hitting record highs in previous week. Weak earnings from Sun Pharma and Tech Mahindra also hit market sentiment.

The 30-share BSE Sensex was down 154.11 points at 30,874.10 and the 50-share NSE Nifty slipped 43 points to 9,552.10.

Sun Pharma and Tech Mahindra crashed around 8 percent post disappointing earnings. ITC, ONGC, M&M, ICICI Bank and Infosys were other early losers while BHEL, Cipla, Tata Motors, Wipro, Lupin, Vedanta, Dr Reddy's Labs, BPCL and Aurobindo Pharma were gainers.

The Indian rupee has opened at 64.48 against the US dollar.

Pramit Brahmbhatt of Veracity feels positive cues from the equity market will help rupee gain further and test 64.20 level.

He expects the USD-INR pair to trade in a range of 64.20-64.80 against the US dollar.

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