Sensex down 70 pts on profit-booking, mix global trend | business | Hindustan Times
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Sensex down 70 pts on profit-booking, mix global trend

business Updated: Jul 05, 2011 17:15 IST

The BSE benchmark Sensex on Tuesday fell 70 points to 18,745 on profit selling and a sharp dip in the heavyweights like RIL and BHEL amid a mixed trend in global stock markets.

The most-heaviest on the Sensex, with 11 % weight, Reliance Industries tumbled Rs 22 or 2.53 % to Rs 846.15. BHEL, the largest power equipment maker dropped Rs 91.90 (4.5 %) to Rs 1,953.80, following reports that the government might approve its 5 % stake sale.

Besides, DLF Ltd, the largest property developer fell by Rs 2.80 to Rs 230.80 snapping its 3-day 12 % surge.

The Bombay Stock Exchange 30-stock index, Sensex, which had climbed 7.5 % in the last two weeks till yesterday, fell by 69.92 points to 18,744.56.

Similarly, the broad-based National Stock Exchange index Nifty fell by 18.40 points to 5,632.10, after touching a high of 5,659.85.

Brokers said investors booked profits as prices had reached higher levels, ahead of the first quarter earnings. They said rising borrowing costs this year might crimp demand and hurt corporate earnings.

The oil and gas sector index suffered the most by losing 1.60 % to 8,955, followed by FMCG, 1.29 pc to 3,987.73. Realty sector lost 1.29 % to 2,129.10 and Power fell by 1.18 % to 2,606.16.

The capital goods index fell by 1.13 % to 13,687.03 as BHEL, BEL, Siemens, ABB Ltd and Gammon India declined on heavy selling.