Sensex dips by 67 points on weak global cues | business | Hindustan Times
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Sensex dips by 67 points on weak global cues

The Bombay Stock Exchange benchmark Sensex today lost 67 points as investors booked profits amid a weak global trend. The Sensex, which scaled a fresh 30-month high yesterday, rolled back to close lower by 67.51 points at 18,219.99.

business Updated: Aug 10, 2010 16:58 IST

The Bombay Stock Exchange benchmark Sensex today lost 67 points as investors booked profits amid a weak global trend.

The Sensex, which scaled a fresh 30-month high yesterday, rolled back to close lower by 67.51 points at 18,219.99.

In the 30-BSE index components, 19 stocks closed with losses and 11 scrips finished higher.

The broad-based National Stock Exchange index Nifty also fell by 25.45 points to 5,460.70.

The downtrend was attributed to weakening global stock markets ahead of a US Federal Reserve meeting, which is expected keep rates near zero for an extended period.

Market participants were cautious and indulged in booking profits at every rise.

The Information Technologies sectoral index suffered the most, falling by 1.42 per cent to 5,591.61 in response to the US's plans to double job visa costs. The second most valuable firm on the Sensex, Infosys Technologies, dropped by Rs 40.50 to Rs 2,832.65, while Tata Consultancy Services dipped by Rs 13.70 to Rs 864.55.

Reliance Industries, which has the maximum weightage on the Sensex, lost another Rs 5.40 to Rs 988.25.

However, the market's fall was cushioned by gains in the realty, capital goods and auto sectors. The auto sector index rose by 0.10 per cent to 8,639.53 on the back of record vehicle sales in June, in addition to Tata Motors' attractive quarter earnings.