Sensex falls below 10k-level in early trade
The Sensex slipped below 10,000 points level by losing 250.43 points in opening trade on emergence of profit-selling by funds amid weak trends on the global markets.business Updated: Mar 30, 2009 11:02 IST
Snapping a long winning-streak, the Bombay Stock Exchange benchmark Sensex on Monday slipped below 10,000 points level by losing 250.43 points in opening trade on emergence of profit-selling by funds amid weak trends on the global markets.
The 30-share Sensex, which had rose by nearly 1,070 points, or 12.06 per cent in the past week, slipped by 251.43 points, or 2.45 per cent in opening trade as funds and retail investors preferred to book profits at prevailing attractive levels.
All the sectoral indices were trading in negative zone with losses up to 3.48 per cent.
Similarly, the wide-based National Stock Exchange’s Nifty fell by 70.20 points, or 2.02 per cent to 3,038.45 points.
Stock brokers said apart from profit-taking, weakness on the other Asian equity markets also triggered selling on the domestic bourses.
They said approaching financial year-end also accelerated selling activity.
Banking index suffered the most among sectoral indices with a fall of 3.48 per cent to 4,661.11 with stocks of ICICI Bank falling by 4.88 per cent to Rs 366.40, HDFC Bank by 3.72 per cent to Rs 959.50 and State Bank of India by 2.07 per cent to Rs 1,102.05.