Sensex down 85 pts in early trade on profit booking

Paterniano Del Favero
Mag 24, 2017

The 30-scrip Sensitive Index (Sensex) of the BSE tanked over 200 points or 0.67 per cent to close at 30,365.25 points. On Friday, the Sensex had closed at 30,464.92, up by 30.13 points, while the Nifty50 ended the day at 9,427.90, down by 1.55 points. ITC, which is among the stocks with the biggest weight in the Sensex, jumped 6.2% to a record 303.65 rupees.

The benchmark BSE Sensex rose further by 106 points following a rally in FMCG, consumer durables and capital goods stocks after the GST Council finalised rates for bulk of the goods and services last week. The 30-share pack has gained 136.18 points, or 0.45 per cent, in last two sessions. Overseas investors sold shares net Rs 321.17 crore yesterday, as per the provisional figures issued by stock exchanges.

Day's top gainers on the BSE were Maruti Suzuki India up 2.70% at Rs 6,880.30; Mahindra & Mahindra up 1.71% at Rs 1,329.35 and Wipro up 1.15% at Rs 526.70.

On Tuesday, Asian indices were mostly showing a positive trend except Japan's Nikkei 225 which was trading in red, down by 0.07 per cent.

The equity markets also reacted to the Indian Army's claim to have decimated several Pakistani military posts along the Line of Control in Jammu and Kashmir. Hong Kong's Hang Seng, however, rose by 0.3% and Korea's Kospi 0.9%. The 30-share index, which opened at 30,638, hit a high and low of 30,712 and 30,516, respectively.

Market breadth turned extremely negative as on the BSE 2,115 stocks declined while 605 stocks advanced and 158 remained unchanged.

Sector-wise, pharma index fell 3.12 per cent, realty was down 2.74 per cent, media dipped 1.85 per cent, PSU banks was down 1.71 per cent, infra was down 1.49 per cent, energy was down 1.21 per cent and FMCG fell by 0.90 per cent.

Laggards on the bourses were: SBI 4.46 per cent, Lupin 3.95 per cent, Gail 2.48 per cent, Bajaj Auto 1.98 per cent, M&M 1.95 per cent, Sun Pharma 1.87 per cent, Dr Reddy's 1.82 per cent and Power Grid 1.82 per cent.

The total turnover on BSE amounted to Rs 4,815.15 crore, higher than turnover of Rs 4,134.78 crore registered during the previous trading session.

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