Sensex falls over 60 points to snap 9-day winning streak, banking stocks fall
Stocks took a breather on Wednesday after nine sessions of gains owing to a rush among investors to book profits towards the fag-end amid sustained foreign fund outflows even as global cues were positive.
The BSE Sensex, after resuming higher at 34,443.42, advanced to hit a high of 34,591.81 on buying by domestic institutional investors (DIIs) as well as retail participants.
However, investors preferred to lock in gains towards the close of the session, with the benchmark finally ending at 34,331.68, down 63.38 points, or 0.18%
The gauge had risen 1,375.99 points, or 4.17% in the previous nine sessions.
The borader NSE Nifty too finished 22.50 points, or 0.21% down at 10,526.20 after hitting the day’s high of 10,594.20 and a low of 10,509.70. It had gained 420.30 points, or 4.15% in the past nine sessions.
Investor sentiment got a boost after the IMF yesterday said India is expected to grow at 7.4% in 2018 and 7.8% in 2019, leaving its nearest rival China behind.