Sensex snaps three-day gain; falls 51 points on profit-booking
The BSE benchmark Sensex today fell from over three-month high by losing 51 points due to profit-booking in recent outperformers such as RIL, Sun Pharma and HDFC Bank ahead of IIP data amid a weak global trend.business Updated: May 09, 2013 16:39 IST
The BSE benchmark Sensex today fell from over three-month high by losing 51 points due to profit-booking in recent outperformers such as RIL, Sun Pharma and HDFC Bank ahead of IIP data amid a weak global trend.
After a three-day of sharp upsurge, the Sensex on Thursday declined by 51.14 points, or 0.26%, to close at 19,939.04. The gauge had hit the crucial 20,000 level many times during the day.
The index had climbed to three-month high by surging 415 points in the previous three sessions.
Profit-booking in recent gainers such as Reliance Industries, Sun Pharma, Jindal Steel, Maruti Suzuki and Sterlite Industries pulled the Sensex down.
Among the 30-BSE index components, 17 stocks fell. Tata Power remained unchanged.
Similarly, the wide-based National Stock Exchange index fell by 19.15 points, or 0.32%, to 6,050.15.
MCX Stock Exchange (MCX-SX) flagship index SX40 fell 2.7 points, or 0.02%, to close at points 11,794.04 on Thursday.
Brokers said investors offloaded some of the recent gainers to book profits ahead of industrial data for March on Friday and a weakening trend in Asian and European stock markets.
They said the falling trend was capped following gains in IT stocks after the US-based Cognizant posted 16.6% rise in net profit for the January-March quarter.
Bucking the trend, Infosys rose by 0.40% to Rs 2,359.90, Tata Consultancy Services by 1.52% to Rs 1,498.85, Wipro by 0.80% to Rs 354.95 and HCL Technologies by 2.61% to Rs 769.95. The BSE IT index rose by 0.87% to 6,059.54.
The healthcare index suffered the most by losing 1.62% to 8,738.26 followed by metal index by 1.46% to 8,804.54 and realty index by 1.10% to 1,911.65.