Millennium Post

Sensex snaps 2-day winning spree, ends 103 points lower

In lacklustre trade, the S&P BSE benchmark sensex snapped its last 2-day winning spree by slipping 103 points to end at 19,223.28 on fresh selling pressure mainly in interest related counters on the back of persistent capital outflows from foreign funds amidst mixed trend in the global markets.

Shares of Banking, Consumer Durable, PSU, Capital Goods and power declined on renewed selling pressure. Refinery, FMCG and Auto sectors also moved down on profit-booking at current levels.

Foreign institutional investors (FIIs) continued their selling as they sold net Rs 165.09 crore on Monday as per provisional data from the stock exchanges.

The sensex resumed slightly higher at 19,329.17 and hovered in a range of 19,383.61 and 19,191.37 before finishing at 19,223.28, showing a net loss of 102.59 points (0.53 per cent). It had gained by 498.71 points or 2.65 pct in the last two days. The National Stock Exchange of India’s (NSE) 50-share Nifty too declined by 36.45 points (0.62 per cent) to 5,813.60.

Most Asian stocks ended higher as indices in Singapore, South Korea, Taiwan and China moved up by 0.23 pct to 1.45 pct while Japan’s Nikkei eased by 0.20 per cent. Hong Kong’s Hang Seng was flat.European stock markets were trading mostly lower as investors remained cautious ahead of the US Federal Reserve Board’s policy meeting, which might signal a potential slowdown in the bank’s asset purchases.
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