Sensex Ends 101 Pts Down Amid Profit Booking
The frontline S&P BSE Sensex ended the session lower by 101.88 points at 60,821.62, while the Nifty-50 index closed at 18,114.90, down 63.20 points. Shares of ITC bagged the top loser, down over three per cent, followed by Maruti Suzuki, Infosys, NTPC, and Tata Steel.
The sentiment in the markets is exacerbated due to stretched valuations of counters and with a weaker than expected start of the earnings session weighed by rising input prices in the companies, said experts.
Vinod Nair, Head of Research, Geojit Financial Services, said, "Despite a strong opening owing to favourable global cues, domestic indices continued its losing streak succumbing to profit booking and barring banks and realty stocks, all major sectors bled."
Sectorally, the BSE Metal pack dipped over two per cent, while the IT, Auto, and FMCG corners closed lower by a per cent each, reeled under selling pressure.
On the contrast, the banking stocks continued to outperform in an otherwise volatile intraday session. Shares of Kotak Mahindra Bank, Axis Bank, and IndusInd Bank were the top index gainers from the pack, adding around a per cent each.
The broader markets were the worst hit as both BSE Midcap and Smallcap indices slumped over one per cent. In the Midcap space, shares of LIC Housing Finance sank more than seven per cent post weak Q2 show. The company reported a 69 per cent decline in its net profit at Rs 247.86 crore. Info Edge and Biocon were other top drags, down six per cent each.
Overall, 1205 shares advanced, 1865 shares declined, and 119 shares were unchanged in the markets today.
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