Sensex snaps 9-day rally, Nifty ends below 8,100-mark
Mumbai: The BSE Sensex today fell from life-time high levels to end down by 54 points at 27,085.93 as investors booked profits in realty, metal, capital goods, IT and banking stocks after a nine-day strong rally.
The 30-share barometer fell below 27,000 level to intra-day low of 26,972.39 points at mid-session, down by 167.55 points. Later, heavy buying by foreign funds helped the Sensex trim some losses and it settled at 27,085.93, yet showing loss of 54.01 points, or 0.20 per cent.
In the longest straight nine-session winning streak of the year 2014, the index had zoomed by 825.65 points or 3.14 per cent.
The broader 50-issue Nifty of the NSE fell below 8,100 points level to close at 8,095.95, a loss of 18.65 points or 0.23 per cent over yesterday. The Nifty had gained 209.85 points or 2.65 per cent in last five sessions.
“Weak global cues and rise in crude oil prices dampened market sentiment, which led to selling pressure across sectors,” Bonanza Portfolio Senior Vice President Rakesh Goyal said.
Shares of realty, metal, capital goods, IT and banking declined. BHEL was the biggest Sensex loser, plunging by 4.44 per cent, while Hindalco declined by 3.40 per cent.
DLF tanked 8.60 per cent after the Punjab and Haryana High Court set aside the state government’s decision to allot 350 acres of land in Gurgaon to the realty major in 2010. Among Sensex components, 19 stocks ended in negative territory, while 11 closed higher.
Construction and engineering firm Jaiprakash Associates tanked 17.60 per cent after promoter Jaypee Infra Ventures sold 1.45 per cent of shareholding for Rs 62.40 crore through open market sale route.
Bucking the weak trend, Bajaj Auto rose the most by 3.25 per cent among 30 Sensex scrips. Gains in NTPC, Hero MotoCorp and HDFC cushioned further losses in the index.