Sensex ends 184 pts lower on profitbooking

first_imgMumbai: The BSE benchmark Sensex Tuesday retreated from its peak level to end 184 points lower as investors resorted to profit taking at higher valuation. The broader Nifty too came off life-time highs to settle 67 points down. Top losers in the Sensex pack were Hero MotoCorp, HCL Tech, TCS, Asian Paints, IndusInd Bank and Infosys, shedding up to 3.08 per cent. On the other hand, Yes Bank, NTPC and Axis Bank emerged as major gainers, rising up to 2.71 per cent. Also Read – SC declines Oil Min request to stay sharing of documents The BSE gauge settled 184.08 points, or 0.46 per cent, lower at 40,083.54. The broader NSE benchmark fell 66.90 points, or 0.55 per cent, to settle at 12,021.65. Auto and IT counters mainly came under a heavy selling pressure due to profit-booking as stocks of both sectors had risen in the previous session on hopes of RBI rate cut and rupee’s sustained rise. The broader mood of the markets remain dampened with a report that the pre-monsoon rainfall in the country was the second lowest in 65 years, he said adding that the three-month pre-monsoon season March, April and May ended with a rainfall deficiency of 25 per cent. Also Read – World suffering ‘synchronized slowdown’, says new IMF chief Analysts said that investors booked profits at higher levels after markets soared to record highs on Monday amid expectations of an interest rate cut by the RBI on Thursday, especially after a disappointing GDP print for the March quarter. “Markets opened marginally lower, but fell later in the afternoon trade as investors and traders awaited RBI’s monetary policy decision amid weak cues from global markets,” said Narendra Solanki, Head Fundamental Research (Investment Services) – AVP Equity Research, Anand Rathi Shares & Stock Brokers. The Indian rupee was marginally lower at 69.28 against the US dollar. Meanwhile, other Asian bourses ended on a negative note, while Europe was trading in the green in opening deals. Brent crude futures, the global oil benchmark, fell 1.53 per cent to 60.34 per barrel.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *