Markets

Sensex Succumbs To Profit-booking, Down 58 Points

Sensex Succumbs To Profit-booking, Down 58 Points

Brokers said investors were seen holding their bets awaiting the outcome of the RBI's bi-monthly Monetary Policy Committee (MPC) meet.

On Tuesday the Sensex closed at 31,190.56 points.

The 30-share BSE Sensex settled trade at 31,213.36, down 57.92 points while the 50-share NSE Nifty slipped 16.65 points to 9,647.25 after gyrating in a range of around 50 points.

Mumbai: In a volatile session, the BSE benchmark Sensex Thursday fell by almost 58 points to 31,213 on profit-booking in recent gainers by investors, who maintained a cautious stance ahead of United Kingdom polls and the European Central Bank meeting.

Also, market participants holding their bets ahead of the United Kingdom general elections and the European Central Bank (ECB) meeting added to the overall weak sentiment.

South Korean markets are closed for Memorial Day. "Volatility will remain high, as indices are trading at record high and hence, traders should remain cautious and selective in stock picking", Jayant Manglik, President, Retail Distribution, Religare Securities said. In Japan, the Nikkei 225 index closed 0.95% lower.

Banking index surged 0.73 per cent as shares of state- run SBI rose 1.22 per cent to INR 290.75, followed by ICICI Bank 1.91 per cent to INR 324.75, Axis Bank 0.58 per cent to 513.30 and HDFC Bank 0.10 per cent to INR 1,640.55.

Major losers were Tata Motors 3.58%, NTPC 2.65%, ONGC 2.28%, ITC 2.05%, L&T 1.60%, Sun Pharma 1.53%, Reliance 1.17%, Bharti Airtel 1.07%, Power Grid 0.93%, Bajaj Auto 0.88%, M&M 0.83% and Hero Motoco 0.70%. Among 51 stocks in Nifty, 21 stocks ended higher and 30 shares ended lower.

The BSE Realty index ended the session at 1,954.11.

Market breadth was negative with 1,067 advances against 888 declines. The Hang Seng index rose 0.3 percent, to 26,063.06, while the China Enterprises Index gained 0.4 percent, to 10,649.90 points, the report added.


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