Sensex drops 186 pts on profit-booking, Nifty ends below 15,800
Mumbai, Jun 29 (PTI): Equity benchmark Sensex declined 186 points on Tuesday, tracking losses in ICICI Bank, Kotak Bank and Infosys as investors booked profits at higher levels.
The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66. Similarly, the broader NSE Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.
On the other hand, PowerGrid, HUL, NTPC, Dr Reddy’s and Nestle India were among the gainers.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities extended losses as profit-booking in financials, auto and metals dragged benchmark indices down. Weak cues from global markets also weighed on sentiments, he said. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses.
Stock exchanges in Europe were, however, trading with gains in mid-session deals.
The Shanghai Composite Index fell 0.9% to 3,573.18 and the Nikkei 225 in Tokyo shed 0.8% to 28,812.61. The Hang Seng in Hong Kong lost 1% to 28,983.89 after the Chinese territory banned airline flights from Britain starting Thursday in a new effort to prevent the spread of a new coronavirus variant.
The Kospi in Seoul retreated 0.5% to 3,286.68 and Sydney’s S&P-ASX 200 lost less than 0.1% to 7,301.20. In early trading, the FTSE 100 in London gained 0.3% to 7,095.06 and Frankfurt’s DAX added 0.6% to 15,642.81. The CAC 40 in Paris advanced 0.3% to 6,580.65.
Investors are swinging between optimism about a global economic recovery underpinned by coronavirus vaccinations and worry that central banks might feel pressure to withdraw stimulus to cool rising inflation pressures.
