Market succumbs to profit booking, Nifty slips 33 pts

Once again nervousness took over the market sentiment with cautious investors resorting to profit booking as the benchmark S&P CNX shed 33 points to end lower at the National Stock Exchange (NSE) today.

Once again nervousness took over the market sentiment with cautious investors resorting to profit booking as the benchmark S&P CNX shed 33 points to end lower at the National Stock Exchange (NSE) here today.

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The 50-share index swung between 5,747.65 and 5,662.55 before closing at 5,691.05, down 33.00 points or 0.58 per cent over its previous close.

Market resumed with a soft start carrying overnight positive sentiment it traded higher for a brief period with supportive global cues. The mood turned weak during mid-afternoon trade as volatility slowly crept in following intense selling in technology, capital goods and FMCGs counters pulled down the key index below the important 5,700-mark.

However, buying in Auto, metal, realty and select banking counters helped to recover some of its lost ground. "Cautiousness due to rate hike fears mars the investors sentiments, so they are taking profits at every rise," traders said.

Ambuja Cements, Suzlon, GAIL, Infosys, SBIN, Hero Honda, L&T, Ranbaxy, HDFC Bank and Reliance were the top losers from the Nifty. However, SAIL, HCL Tech, DLF, Sterlite Industries, Sesa Goa, Hindalco, Reliance Infra, Kotak Bank, Bajaj Auto and ICICI Bank were registered handsome gains. Total turnover in the cash segment rose to Rs 13,132.63 crore from Rs 11,403.33 crore yesterday.

A total of 7,047.62 lakh shares changed hands in 59,83,359 trades and market capitalisation stood at Rs 66,61,245 crore at the end of day.