STOCK MARKET BSE NSE

Sensex Ends 6-Day Rally on Profit Booking; Closes Down 42 Pts

The market was in over bought position following recent record setting spree and fell on profit selling in banking stocks following a slide in bonds.

Published: 03rd April 2014 04:53 PM  |   Last Updated: 03rd April 2014 04:53 PM   |  A+A-

Sensex1_PTI
By PTI

The BSE benchmark index Sensex today fell from record levels and closed down by 42 points due to profit booking at higher levels mainly in banking and oil stocks, ending its six-day gaining spree.

In early trade the 30-share index touched new all-time high of 22,620.65 points, for the ninth day in a row. However, the index could not sustain the momentum and succumbed to profit booking later.

The barometer closed down by 42.42 points, or 0.19 per cent, to 22,509.07 points. It touched a low of 22,369.28 during the day.

The broad-based Nifty of the National Stock Exchange eased by 16.45 points, or 0.24 per cent, to 6,736.10, after climbing to record high of 6,776.75. It touched a low of 6,696.90 in the day.

Brokers said the market was in over bought position following recent record setting spree and fell on profit selling in banking stocks following a slide in bonds.

They said the falling trend was partially checked as healthcare, FMCG and metal stocks gained on selective buying at the fag-end by retail investors.

In 30-BSE index components, 17 stocks declined led by Reliance Industries, ICICI Bank, Axis Bank, State Bank of India, HDFC Bank, Bajaj Auto, Bharti Airtel and BHEL.

Market supporters were Infosys, Cipla, Dr Reddy's Lab., Hindustan Unilever, Maruti Suzuki, Sun Pharma and Sesa Sterlite Industries.

The public sector undertaking sector inex suffered the most by losing 1.33 per cent to 6,362.30 followed by banking index by 1.09 per cent to 14,375.92. Oil and gas index lost 0.87 per cent to 9,641,86 and capital goods index by 0.83 per cent to 12,013.60.



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