Sensex down 132 points on profit-taking, weak global cues
The Bombay Stock Exchange benchmark Sensex today fell by 132 points to 13,928 points in opening trade as funds and investors indulged in booking profits on weak global cues.business Updated: May 21, 2009 10:33 IST
The Bombay Stock Exchange benchmark Sensex today fell by 132 points in opening trade as funds and investors indulged in booking profits on weak global cues.
The 30-share barometer, which had lost 241.37 points on Tuesday, moved further down by 132 points, or 0.80 per cent, to 13,928.66 points as banking and capital goods stocks came under selling pressure.
Similarly, the wide-based National Stock Exchange index Nifty declined 29.50 points to 4,240.80 points.
Marketmen said continued profit-taking by investors at prevailing attractive levels and weak trends in the global markets, after the US Federal Reserve cut its economic forecasts, mainly dragged the Sensex down.
They said players also turned somewhat cautious ahead of inflation data, to be released later in the day.
Among banking stocks, State Bank of India fell 1.64 per cent to Rs 1,750.95, ICICI Bank 3.64 per cent at Rs 683 and HDFC Bank 2.14 per cent at Rs 1,344.90.
Other losers were Maruti Suzuki which was down 2.87 per cent to Rs 1,013.50, Mahindra and Mahindra 1.64 per cent to Rs 667.50, Tata Motors 3.16 per cent to Rs 352.40, Reliance Infra 0.39 per cent to Rs 1,090.85, Larsen and Toubro 2.60 per cent to Rs 1,324, HDFC Ltd 2.49 per cent to Rs 2,154.90.
The US Dow Jones Industrial Average closed 0.60 per cent lower yesterday, while Hong Kong's Hang Seng and Japan's Nikkei were down by nearly one per cent in early trade on Thursday.