Sensex falls 30 points on profit-booking
Mumbai: The BSE benchmark Sensex Monday closed 30 points lower due to profit-booking mainly in banking and oil stocks amid weak quartelry earnings by some banks.
The Sensex closed with a loss of 30 points, or 0.15 percent, to 19,751.19 points on weak earnings by Bank of Baroda and IDFC. The gauge had lost nearly 224 points in last two trading sessions.
Similarly, the broad-based National Stock Exchange index Nifty fell by 11.65 points, or 0.19 percent, to 5,987.25.
Brokers said investors adopted a cautious approach and refrained from enlarging their positions after reports of a fall in quarter earnings by Bank of India and IDFC Ltd.
They said the firming global trend failed to influence the market sentiment as some stocks led by ONGC surrendered fresh ground on profit-booking after the recent upsurge.
Bank of Baroda lost 7.5 percent to Rs 802.10 after the lender posted a 21.5 percent decline in its net profit at Rs 1,011.62 crore for the quarter ended December. Similarly, IDFC fell by 5.71 percent to Rs 158.65 also on weak earnings.
Shares of ONGC dropped by 2.08 percent to Rs 325.55 after rising 26.3 percent in last few session. The two most index-heavy with their 16 percent weight Reliance Industries and Infosys fell by 0.79 percent to Rs 886.35 and 0.31 percent to Rs 2,762.35, respectively.
In 30-BSE index components, 20 stocks declined led by PSU, Healthcare, Power, Refinery and metal sectors.