The Hindu Business Line : Sensex falls on profit taking

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Wednesday fell 0.3 per cent as investors sold shares to book profits, ending a three-day rally. The 30-share benchmark index, which gained over 355 points in the last three days, attracted profit sel ling and closed 51.87 points, or 0.3 per cent lower at 16,998.78. The key-index moved between 17,098.79 and 16,958.41 points during the day.

Similarly, the wide-based National Stock Exchange index Nifty moved between 5,079.30 and 5,041.65, before ending lower by 7.55 points at 5,054.70.

Besides profit booking, mixed Asian cues and better European trend, kept the market volatile before ending with moderate losses. In the 30-BSE index stocks, 18 counters recorded losses while 12 ended with gains.

Oil and gas, bank, capital goods, public sector undertaking and power sector stocks acted as a drag on the market, while metal, FMCG, IT, Realty and consumer durable segments saved the market from a major fall.

Banking stocks led by private lender ICICI Bank fell after HSBC Holdings Chairman Stephen Green said new rules may reduce the amount of credit available. The fall in the market was checked as information technology stocks led by Wipro rose after Morgan Stanley said the company expects increased demand for information technology services. - PTI

Next: Don't be swayed by global recovery, cautions SEBI

Business Line | NUS Index |

Copyright copy; 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line