TT Epaper
The Telegraph
TT Photogallery
 
CIMA Gallary

Sensex trips on profit booking

Mumbai, April 11: Markets retreated from all-time high levels today, with the BSE benchmark Sensex losing over 86 points and the NSE Nifty over 20 points as cautious investors booked profit in auto, refinery and banking shares ahead of the release of the latest inflation data and the corporate earnings season.

After trading in a narrow range, the 30-share Sensex ended at 22628.96, a loss of 86.37 points, or 0.38 per cent, from its previous close. It had gained 371.88 points, or 1.66 per cent, in the previous two trading days.

The NSE 50-share Nifty also moved down 20.10 points, or 0.30 per cent, to finish at 6776.30. For the week, however, the Sensex had gained over 1 per cent.

“FIIs remained strong buyers of Indian equities. The broad theme remained the same with domestic cyclicals outperforming IT and FMCG, said Dipen Shah, head of private client group research, Kotak Securities.

A worse-than-expected trade data also hit the sentiment.

Auto shares declined as domestic passenger car sales fell 5.08 per cent to 1,71,489 units in March compared with 1,80,675 units in the year-ago month.

Major losers were M&M at 1.75 per cent and Tata Motors at 1.75 per cent. Blue-chip RIL was down 1.65 per cent.

Selling pressure was seen at higher levels as investors booked profits and weak global markets also impacted the market sentiment, said Nidhi Saraswat, senior research analyst at Bonanza Portfolio.

“The sentiment was bearish in the absence of any positive trigger and prevailing caution ahead of the release of IIP data later in the day and retail inflation data early next week,” said Jayant Manglik, president, retail distribution, Religare Securities.

 
 
" "