Sensex falls by 60 pts on profit selling, ends below 20K
Snapping a three-session rally, the Bombay Stock Exchange benchmark Senesex today fell by 60 points to retreat from 32-month highs as investors booked profit after recent run-up.business Updated: Sep 22, 2010 17:03 IST
Snapping a three-session rally, the Bombay Stock Exchange benchmark Senesex today fell by 60 points to retreat from 32-month highs as investors booked profit after recent run-up.
The 30-share barometer lost 59.83 points to close at 19,941.72 points. It touched the day's high of 20,105.54 and a low of 19,804.02. The index had crossed 20,000 level for the first time in 32 months yesterday.
The broad-based National Stock Exchange index Nifty also fell by 18.05 points to 5,991.00 points, a tad below the crucial 6,000 level.
Profit-booking at higher levels following a significant rise of 2100 points in a span of 15 sessions in recent times, mainly pulled down the market from its psychological levels, brokers said.
A mixed trend in the Asian region and lower opening in Europe this afternoon further fuelled the downtrend.
Brokers said recent gainers turned losers as investors judged the sharp upsurge might be overdone and preferred to reduce their holdings with a view to book profits.
They said major participants turned cautious ahead of derivatives settlement volatility period.
The star performers in recent past like stocks of realty, IT, banking and capital goods, were seen closing with fresh losses.
The BSE realty sector index suffered the most by losing 1.89 per cent to 3,657.72 followed by the BSE IT index which fell by 1.61 per cent to 5,944.42.
IT major Infosys Technologies dropped by Rs 51.20 to Rs 3,007.30 and second software exporting major Tata Consultancy by Rs 18.20 to Rs 934.55.
Market leader Reliance Industries dropped by Rs 13.65 to Rs 1,019.25.