Sensex falls by 120 pts after selling by funds | business | Hindustan Times
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Sensex falls by 120 pts after selling by funds

The Bombay Stock Exchange benchmark Sensex today fell by over 120 points due to profit booking in bluechips led by Reliance Industries.

business Updated: Jul 28, 2010 16:57 IST

The Bombay Stock Exchange benchmark Sensex on Wednesday fell by over 120 points due to profit booking in bluechips led by Reliance Industries.

After a volatile session, the 30-share index closed 120.24 points lower at 17,957.37 points. In 30 BSE index components, 17 stocks declined while 13 closed with gains.

The broad-based National Stock Exchange index Nifty fell by 33.05 points to 5,397.55 points.

Brokers said investors booked profits ahead of the expiry of current month settlement on the derivatives segment, even discounting better trends in the global markets.

Reliance Industries, which carries the highest weightage in the Sensex, dropped by over 3 per cent to Rs 1,020.95 despite overnight announcement of 32.3 per cent rise in the net profit for the first quarter, the best ever performance.

Mortgage major HDFC lost Rs 44.75 to close at Rs 2,895.30. Engineering giant Larsen and Toubro fell by Rs 38.45 to Rs 1,824.80.

With the fall in RIL stocks, oil and gas index fell the most by 1.92 per cent to 10,264.86, followed by realty sector index, which lost 1.29 per cent to settle at 3,416.57 points.

Capital goods sector index fell by 0.86 per cent to 14,796.07 and banking sector index by 0.24 per cent to 11,450.65.

As the selling pressure spread over a wide front, midcap index lost 0.21 per cent to close at 7,366.20 and smallcap index by 0.15 per cent to 9,345.49.

Asian stocks ended in positive terrain on some strong corporate earnings. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended up by between 0.20 per cent and 2.70 per cent. European stocks were also trading in positive zone in their late morning deals.