Sensex back in negative zone after breaching 16K level
The benchmark Sensex on Tuesday lost over 109 points in early volatile trade, after breaching the 16,000-point mark for the first time since June 2 last year at the outset.
Mumbai: The benchmark Sensex on Tuesday lost over 109 points in early volatile trade, after breaching the 16,000-point mark for the first time since June 2 last year at the outset.
The BSE-30 share index, which had crossed 16,000-point mark to touch a high of 16,002.46 points in opening trade, plunged into the negative terrain to trade 109.28 points down at 15,814.95 as foreign funds and retail investors preferred to book profits at the prevailing higher levels.
The Sensex had gained over 750 points, or 4.96 percent, in the past three sessions.
Similarly, the Nifty index on the wide-based National Stock Exchange fell by 35.30 points at 4,676.10 in early trade.
Marketmen said reversal in trend on the other Asian markets, which turned somewhat weak after firm opening, also weighed on the trading sentiments here.
Stocks of FMCG, software exporters, auto and realty sectors, which had risen sharply in the recent run-up, succumbed to profit-taking and pulled down the Sensex.
"Emergence of profit-booking by major participants after a recent run-up, mainly led to a fall in stock prices," said an analyst.
Major losers were Infosys down 1.34 percent at Rs 2,048, ITC Ltd 2.34 percent to Rs 242.50, ONGC Corp 1.55 percent at Rs 1,157.90 and Tata Power 2.18 percent to Rs 1,320.
Besides, Sun Pharma fell by 1.42 percent to Rs 1,160,
Reliance Infra by 0.54 percent to Rs 1,21.25, DLF Ltd by 0.26
percent to Rs 404.60, BHEL by 0.76 percent to Rs 2,325,
Bharti Airtel by 2.35 percent to Rs 401.45.
The US Dow Jones Industrial Average ended 1.25 percent
higher yesterday, while Hong Kong`s Hang Seng was down
marginally by 0.05 percent in volatile morning trade today.