Sensex fails to maintain initial gains, drops over 200 points
Zee Media Bureau
New Delhi: The S&P BSE benchmark sensex succumbed to profit-booking in mid-session trade Wednesday and was down over 200 points ahead of the expiry of futures and options September contract tomorrow, amidst lower global cues.
Selling was seen in Refinery, FMCG, Banking and realty sectors.
The Sensex opened higher at 19,947.43 and moved up to 19,978.49 on initial buying from operators. However, it declined to 19,676.85 and was quoted at 19,702.26, showing a loss of 217.95 points or 1.09 percent from its last close.
The NSE 50-share Nifty also eased by 70.80 points or 1.20 percent to 5,821.65.
Meanwhile, foreign institutional investors sold net Rs 21.09 crore yesterday as per the provisional data from stock exchanges.
Asian stocks showed a mixed trend as concerns of US lawmakers being able to arrange a budget deal preventing a government shutdown next week, weighed on the sentiment.
Key benchmark indices in Japan, Singapore, Taiwan and South Korea were off 0.08 percent to 0.73 percent while indices in China and Hong Kong rose 0.26 percent to 0.27 percent.
With PTI Inputs