Sensex loses 314 points on Fed bytes
The benchmark BSE Sensex tumbled by 314 points on Monday to close at 27,643.88 on fresh selling pressure due to widespread profit-booking after recent gains amid lower-than-expected earnings numbers from ITC. Key indices declined after comments from Federal Reserve Chairwoman Janet Yellen indicated that it is on track to raise interest rate this year.
ITC on Friday reported a modest 3.65 <g data-gr-id="17">per cent</g> increase in standalone net profit at Rs 2,361.18 crore for the fourth quarter ended March 31, owing to muted growth in cigarette business and decline in <g data-gr-id="16">agri</g> segment revenue. The 30-share BSE index resumed on a shaky wicket and continued to decline to hit a low of 27,614.32. It finally settled at 27,643.88, down 313.62 points, or 1.12 <g data-gr-id="18">per cent</g>. The gauge had gained 148.15 points in the previous session on Friday. Of the 30-share Sensex pack, 26 ended lower while ONGC, Bharti Airtel, Wipro and M&M advanced.