Sensex, Nifty Tank Over 1.6 Pc on Profit Booking

Weakness in the rupee, which fell below 62 level in day trade against the dollar also fueled negative sentiments.

Published: 30th January 2015 04:46 PM  |   Last Updated: 30th January 2015 04:46 PM   |  A+A-


MUMBAI: The benchmark BSE Sensex today plummeted by 498.82 points, its second biggest single-day fall this year, on heavy profit booking mainly in banking, pharma and auto stocks after recent record gains.

Weakness in the rupee, which fell below 62 level in day trade against the dollar also fueled negative sentiments.

The Sensex opened on a high note and touched all time high of 29,844.16 in early trade.

However, profit booking at record levels by FPIs and domestic funds dragged the index down to day's low of 29,070.48 points. The barometer settled at 29,182.95, down 498.82 points or 1.68 per cent.

The Sensex had gained more than 2,346 points, or over 8 per cent in last ten sessions and hit several record highs.

The NSE Nifty too closed down by 143.45 points, or 1.60 per cent, at 8,808.90 points. The 50-share index had hit an intra-day record high of 8,996.60, just missing the 9,000-mark in the opening trade.

 The Nifty had gained about 675 points, or 8.15 per cent, in previous 10 sessions.

Stock brokers said today's plunge was more of a technical correction as market was in an "over-bought" position and participants preferred to lighten positions by booking profits at record levels.

Coal India fell by 3.81 per cent in the wake of the floor price for the company's share sale being set at a discount.

SBI was the biggest loser among Sensex stocks by falling 5.13 per cent followed by ICICI Bank (4.95 per cent) and HDFC Ltd (3.35 per cent).

Other heavyweights like Axis Bank, Dr Reddy, Tata Motors, HDFC Bank, Hindalco, L&T, M&M, RIL, Sun Pharma, TCS, Bharti Airtel, Bajaj Auto, Maruti Suzuki and Hero MotoCorp also slipped.

Bucking the trend, stocks of Tata Power, NTPC, Sesa Sterlite, GAIL, Cipla, BHEL, Tata Steel and Wipro continued their upward journey on sustained buying activity.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 1,723.77 crore yesterday, as per provisional data.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp