After falling on Thursday, equity benchmarks continued to slide for a consecutive day on Friday on the back of profit booking.

The benchmark Sensex closed at 22,360 down 150 points or 0.66 per cent.The Nifty too slid below the 6,700 mark to close at 6,694 down 42 points or 0.62 per cent.

On the BSE, except realty, metals and consumer durables all sectoral indices closed in the red. Realty sector however rallied the highest to close 3.37 per cent higher than its previous close on Thursday.

According to marketmen, investors remained cautious ahead of Lok Sabha elections which kick off on the first trading day of next week. Polls will be held in six constituencies of two states - Assam and Tripura on April 7.

Vinod Nair, Head-Fundamental Research, Geojit BNP Paribas Financial Services said: "Some profit booking was expected as index showed loss of momentum in the last 3-4 trading days, where after a small gap up opening it resided negative to sideways rest of the day."

"Profit booking was seen in capital goods as they have smartly outperformed in the near-term. IT and Auto lost some shine lead by rupee out performance and near-term demand concern," he added.

Volatility was up with the volatility index closing at 23 up around 3 per cent.

DLF, Cipla, PNB, Indusind Bank and Tata Steel were the top five Nifty gainers while BHEL, NTPC, Powergrid, HCL Tech and Mc Dowells were the top laggards.

(This article was published on April 4, 2014)
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