Sensex snaps four-day rally, sheds 58 pts
Mumbai: The Bombay Stock Exchange benchmark index Sensex broke its four-day rally on Wednesday and fell by 58 points on profit booking amid weak global sentiment.
The Sensex, which had gained about 800 points in the
last four sessions, failed to extend the rally and closed
lower by 57.74 points at 17,343.82, after fluctuating between
17,440.05 and 17,322.80 points.
The wide-based National Stock Exchange index Nifty too
lost 18.50 points to 5,169.45. It touched a high of 5,197.05
and a low of 5,160.10.
Marketmen said funds sold in large quantities ahead of
the monthly settlement in the derivative segment tomorrow.
On weak Asian cues, both the indices opened gap-down but
returned to positive territory during the day, but renewed
selling pressure and profit-booking pulled the indices down.
The market remained volatile throughout the day with
alternate bouts of buying and selling as funds seen shifting
their portfolios ahead of the end of the current month
settlement in the derivatives section tomorrow.
Investors also joined the selling spree to book profits,
after a huge rally in the past week which drove the markets to
the highest level since May 2008.
Among the 30 Sensex counters, 16 stocks declined while 14
ended in the positive zone. FMCG, capital goods, metals and
refinery stocks, which were saw major gains in last few
sessions, led the fall today.
A weak global trend and foreign funds remaining on
Christmas-new year holiday also kept the trading sentiment
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