BSE Sensex down 134 pts on profit-booking | business | Hindustan Times
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BSE Sensex down 134 pts on profit-booking

Amidst high volatility, the BSE benchmark Sensex dropped 134 points due to profit-booking from investors following expiry of near-month October contracts and doubts over the quantum of quantitative easing by US Federal Reserve at a policy meeting in early November.

business Updated: Oct 30, 2010 14:48 IST

Amidst high volatility, the BSE benchmark Sensex dropped 134 points due to profit-booking from investors following expiry of near-month October contracts and doubts over the quantum of quantitative easing by US Federal Reserve at a policy meeting in early November.

Realty, power, public sector units, IT and metal sectors were the major losers of the week on fresh selling pressure from operators. Metal stocks were the worst hit on worries of the pace of global economic recovery.

However, buying was seen in consumer durable and auto stocks as investors seemed to be on a shopping spree ahead of the fast approaching Diwali festival. But this was not enough to stem the decline in the key index.

Operators and investors were seen rolling over their long as well short positions following expiry of derivatives contracts on October 28, leading to see-saw movements, a broker said.

The 30-share Sensex resumed higher at 20,199.73 and hovered in a range of 20,452.30 and 19,768.96 before ending the week at 20,032.34, showing a net loss of 133.52 points or 0.66 per cent from its last weekend's close.

Meanwhile, food inflation declined sharply to 13.75 per cent for the week ended October 16 from 15.53 per cent previously on improved kharif supplies and fall in prices of certain vegetables, especially potatoes and onions.