Sensex slips 135 pts to one-week low
29 July 2014 10:27 PM GMT
Trading activity was also sluggish ahead of Tuesday's holiday and monthly expiry in derivatives on Thursday.
Stock markets opened on a better note with the 30-scrip Sensex touching the day's high of 26,181.83 points in early trade. It later slipped below the 26,000-mark on across the board profit booking by participants and closed 135.52 points, or 0.52 per cent, down at 25,991.23. Intra-day, it had touched a low of 25.900.25.
Monday's Sensex closing is the weakest since 25,715.17 on 21 July, 2014. On Friday, it had shed 145.10 points, snapping a record 8-day upmove in which the Sensex rose over 5 per cent.
Strong selling pressure was seen in sectors like realty, metals, oil & gas, PSUs, auto, banking and capital goods.
Stocks of FMCG major Hindustan Unilever gained 3.69 per cent after the company on Monday reported increase in standalone net profit at Rs 1,056.85 crore for the June quarter. Among others counters that saw earnings on Monday, shares of Persistent Systems and Bank of Baroda closed higher while JK Cement, Havells India and Dabur edged lower.
‘Profit booking was seen at higher levels in most of the index heavyweights.
Market breadth was negative, and volumes were lower than the last session,’ said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
Stock markets opened on a better note with the 30-scrip Sensex touching the day's high of 26,181.83 points in early trade. It later slipped below the 26,000-mark on across the board profit booking by participants and closed 135.52 points, or 0.52 per cent, down at 25,991.23. Intra-day, it had touched a low of 25.900.25.
Monday's Sensex closing is the weakest since 25,715.17 on 21 July, 2014. On Friday, it had shed 145.10 points, snapping a record 8-day upmove in which the Sensex rose over 5 per cent.
Strong selling pressure was seen in sectors like realty, metals, oil & gas, PSUs, auto, banking and capital goods.
Stocks of FMCG major Hindustan Unilever gained 3.69 per cent after the company on Monday reported increase in standalone net profit at Rs 1,056.85 crore for the June quarter. Among others counters that saw earnings on Monday, shares of Persistent Systems and Bank of Baroda closed higher while JK Cement, Havells India and Dabur edged lower.
‘Profit booking was seen at higher levels in most of the index heavyweights.
Market breadth was negative, and volumes were lower than the last session,’ said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
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