Sensex ends 5-day rally on weak trade data; down by 108 pts
The BSE benchmark index Sensex on Tuesday receded from record high level losing 108 points on profit booking by investors after a five-day rally amid weak trade data.business Updated: Mar 11, 2014 19:58 IST
The BSE benchmark index Sensex on Tuesday receded from record high level losing 108 points on profit booking by investors after a five-day rally amid weak trade data.
The barometer, in early trade, crossed the 22,000 level for the second time in as many days but later succumbed to profit booking in bluechips lead by Reliance Industries, HDFC Bank and Tata Steel.
The 30-share index settled at 21,826.42 points, down by 108.41 points, or 0.49 %, from the previous close.
Buoyed by nearly 1,000-point rally in the previous five sessions, the Sensex breached the 22,000 level for the first time yesterday but closed at 21,934.83, still an all-time high.
Similarly, the Nifty of National Stock Exchange rose to a high of 6,562.85 points during the day, but later closed down by 25.35 points, or 0.39 %, at 6,511.90.
Reports of dip in export and imports and a weak trend in European markets on slowing growth in China hit the market sentiment, brokers said.
After recording positive growth for seven consecutive months, exports contracted by 3.67 % in February although the trade deficit showed a marked improvement mainly on account of a significant decline in gold imports.
Profit booking at higher levels after the five-day rally also influenced the sentiment, they said.
Among 30-BSE index components, 18 stocks declined. Tata Steel, Reliance Industries, HDFC Bank and Mahindra and Mahindra posted losses up to 5.52 %. Maruti Suzuki, Sun Pharma, Coal India, Bajaj India, ITC and Dr Reddy's Lab were also among losers.
Bucking the trend, stocks of Tata Power, Reliance Infra and Reliance Power gained.
The metal sector index suffered the most by losing 3.44 % followed by healthcare index by 0.99 %.
The auto index lost 0.64 % and capital goods index by 0.64 %.
First Published: Mar 11, 2014 10:15 IST