Sensex falls 160 points to 25,102, Nifty below 7,700 on profit booking
The 30-share barometer dropped by 160.09 points, or 0.63%, to 25,102.12, with all sectoral indices led by FMCG, metal, IT and auto stocks leading the fall with losses up to 1.08%.business Updated: May 06, 2016 11:27 IST
The benchmark Sensex fell over 160 points in Friday’s early trade while the NSE Nifty cracked below the 7,700-mark due to profit-booking by investors after Thursday’s gain amid weak cues from Asian markets ahead of the US employment data.
The 30-share barometer dropped by 160.09 points, or 0.63%, to 25,102.12, with all sectoral indices led by FMCG, metal, IT and auto stocks leading the fall with losses up to 1.08%.
The index had gained 160.48 points in the previous session.
Also, the broader NSE Nifty dipped below the crucial 7,700-mark by falling 51.10 points, or 0.66% to 7,684.40.
Shares of leading commodity exchange MCX was trading 4.21% lower at Rs 877.80 after the company Thursday reported a 45% fall in standalone net profit to Rs 27.10 crore during the fourth quarter of the 2015-16 fiscal.
Stocks of ITC group plunged 1.98% to Rs 311.25 after the company said its cigarette factories have been shut since May 4 and will remain so till the time it is able to comply with “interim requirement” of 85% pictorial warnings.
Shares of country’s largest two-wheeler maker Hero MotoCorp fell 1.15% to Rs 2,860.75 despite the company’s 70.85% rise in standalone net profit at Rs 814.16 crore for the fourth quarter ended March 31.
The company had posted a net profit of Rs 476.53 crore during the same period of the previous fiscal.
Brokers said apart from profit-booking , a weak trend at other Asian bourses as investors await the release of key US jobs data later in the day, dampened sentiment here.
In the Asian region, Hong Kong’s Hang Seng was down 1.27% and Japan’s Nikkei fell 0.72 %. Shanghai Composite fell 1.44% in early trade.
The Dow Jones Industrial Average, however, ended marginally up by 0.05% in Thursday’s trade.