Sensex down by more than 79 points on weak European cues
Cautious operators booked profits following a weak European opening after three sessions of strong gains, pulling the benchmark Sensex down by 79.72 points or 0.89 per cent to close at 8,863.82.business Updated: Mar 17, 2009 17:48 IST
Cautious operators booked profits following a weak European opening after three sessions of strong gains, pulling the benchmark Sensex down by 79.72 points or 0.89 per cent to close at 8,863.82.
However, the Sensex crossed the 9,000-mark after a month in intra-day trade.
The Bombay Stock Exchange’s 30-share barometer opened stable and touched the day’s high of 9,024.12, a level not seen since February 19, on Asian markets firming.
Later, it dropped to a low of 8,801.79 on weak initial European indices as fears over renewed trouble in the credit market, which showed an increase in US credit defaults, led to profit booking.
It had gained a whopping 783.14 points or 9.60 per cent in the straight three trading sessions since March 12.
In the Sensex pack, TCS moved down by 4.31 per cent, SBI by 3.87 per cent, Jaiprakash Asso by 3.75 per cent, HDFC Bank by 2.27 per cent, Ranbaxy by 2.03 per cent and RIL by 1.98 per cent.
Among sectoral indices, the Bankex dipped by 81.63 points or 2.00 per cent, the IT index by 37.87 points or 1.72 per cent and the oil & gas index by 91.65 points or 1.46 per cent.
The broad-based 50-issue Nifty of the National Stock Exchange also fell by 19.80 points or 0.71 per cent to 2,757.45 from its last close.