Sensex slips down 37 pts as profit-booking rules
BSE benchmark Sensex ended over 37 points down in a choppy trade at 28,171.69 on Tuesday, weighed down by profit-booking in blue-chips.business Updated: Jul 07, 2015 18:31 IST
BSE benchmark Sensex ended over 37 points down in a choppy trade at 28,171.69 on Tuesday, weighed down by profit-booking in blue-chips.
Snapping its two-day winning run, the fall was led by technology and IT as mixed global cues didn't help things either.
Nifty fell 11.35 points, or 0.13%, to 8,510.80. After hitting the day's high of 28,335.23, its highest in 10 weeks, the 30-share index slipped into the red to hit a low of 28,084.36 before settling 37.07 points, or 0.13%, down at 28,171.69.
Bouts of profit-booking at improved levels took its toll.
The gauge had gained 262.96 points in the previous two sessions.
The 50-share Nifty shuttled between 8,483.85 and 8,561.35 during the session.
Brokers said the market got off to a strong start as foreign funds went ahead with their buying activity, shrugging of Greece developments amid hopes of a rate cut by RBI as the monsoon's progress stood at above-normal.
However, some late selling by participants, mostly of profit-booking kind, washed out the gains completely.
In the Sensex group, Vedanta fell the most, followed by NTPC, while HeromotoCorp, Hindalco, RIL, ONGC, Cipla and ICICI Bank ran up losses, too.
The notable gains came from Coal India, HDFC, Wipro, SBI, Sun Pharma and Dr Reddy's, as Bajaj Auto, Axis Bank, HDFC Bank ended in the positive zone, thus cushioning the fall.
While foreign portfolio investors (FPIs) net bought shares worth Rs 149.37 crore, domestic investors (DIIs) turned net sellers of stocks worth Rs 409.66 crore yesterday, according to provisional data.
Broader market BSE small-cap index rose 0.62% while mid-cap index added 0.52%. Of the 30-share Sensex pack, 21 ended the day lower.
Sectorally, the technology index fell the most, plunging 0.48%, followed by IT, power, auto and oil and gas. Globally, Asian markets wrapped up the day on a mixed note. European markets were in the negative terrain in early trade as investors awaited more cues with euro zone FMs slated to hold an emergency meeting on Greece later in the day.