Sensex snaps 4-day winning spree, dn 104 pts on profit-booking

The S&P BSE benchmark sensex snapped its last 4-day winning spree, slipping by 104 points to close at 28,335.16 on fresh selling pressure in view of cautious approach from operators ahead of the Reserve Bank Of India's meeting tomorrow amidst mixed global cues.

Fresh foreign capital outflows also affected the market sentiment. Foreign portfolio investors (FPIs) sold shares worth a net Rs 403.52 crore yesterday, as per provisional data released by the stock exchanges.

Shares of Metal, Energy, Auto, Refinery and Telecom were the major losers of the day.

The NSE 50-share Nifty also dropped by 32.75 points or 0.37 per cent to close at 8,768.30.

The sensex resumed slightly higher at 28,443.23 and moved up further to a high of 28,483.41 on initial buying. But, it dropped afterwards to 28,239.12 on profit-booking before ending at 28,335.16, showing a loss of 104.12 points or 0.37 per cent.

The sensex had gained by 783.32 points or 2.83 per cent in previous four days.

In the overseas market, Asian stocks ended mixed amid reports of China's foreign exchange reserves had fallen for a seventh month adding to nervousness. Key indices in China, Hong Kong, Japan and South Korea ended lower by 0.07 pct to 0.12 pct while indices in Singapore and Taiwan rose by 0.17 pct to 0.48 pct. .