Sensex drops 128 pts as capital goods, refinery stocks fall

The benchmark Sensex plunges by nearly 128 points on heavy profit booking by funds, particularly in capital goods and refinery stocks.

The benchmark Sensex plunged by nearly 128 points on the Bombay Stock Exchange on Wednesday on heavy profit booking by funds, particularly in capital goods and refinery stocks.

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The Sensex, which had been on upward trend with the opening of mega issue of DLF Ltd, fell by 127.92 points, or 0.91 per cent at 14,003.03, after dipping below 14,000 points level at one stage. Initially, it rose to 14,152.79 points.

The National Stock Exchange index Nifty fell by 42.15 points, or one per cent at 4113.05. It moved between 4102.95 and 4161.80 points during the session.

The major puller to the key indices were heavy machinery stocks like BHEL, Larsen and Toubro, ABB and Gammon India with the capital goods index losing 131.94 points.