Sensex snaps 5-day rally, falls 265 points from record close
6 Nov 2013 11:37 PM GMT
The Sensex, which had ended at record closing of 21,239.36 in the special Diwali Muhurat trading on Sunday, fell sharply by 264.57 points, or 1.25 per cent, to close at 20,974.79 led by stocks of FMCG, Healthcare and IT sectors.
In the previous five sessions, the 30-share Sensex rose by 669 points. Tuesday's fall in absolute terms is the worst since 30 September when it had dropped by 347.50 points.
On similar lines, the broad-based National Stock Exchange index Nifty also slipped from its record high closing level by losing 64.20 points, or 1.02 per cent to 6,253.15. On Sunday's special session, it had closed at a record 6,317.35.
Also, SX40 index, the flagship index of MCX-SX, closed at 12,494.1, down 105.43 points or 0.84 per cent.
'Profit booking after several sessions of gains led to the fall. Global indices were also trading on a cautious note,' said Rakesh Goyal, senior vice president, Bonanza Portfolio Ltd.
Brokers said a weakening trend in Asia and lower opening in Europe on growth concerns further fuelled the selling pressure in export-oriented domestic stocks.
In the Sensex pack, 22 stocks declined while just eight gained. The major losers were Bajaj Auto, Bharti Airtel, TCS, Bhel, GAIL India, HUL, ICICI Bank, Infosys, ITC, Jindal Steel and L&T.
Sectorally, the BSE FMCG sector suffered the most by losing 2.53 per cent, followed by BSE Healthcare index by 1.55 per cent, BSE IT sector index by 1.28 per cent and BSE TECK index by 1.25 per cent.
European stocks were lower in early trade as investors awaited economic forecasts from the European Union.
In the domestic market, the major losers on the Sensex were ITC (-3.52 per cent), ICICI Bank (-3.07 per cent), Sun Pharma (-2.96 per cent), Dr Reddy’s Laboratories (-2.88 per cent) and TCS (-2.74 per cent).
The gainers included Hindalco, which rose 1.47 per cent, followed by Coal India 1.42 per cent and Tata Motors 1.02 per cent.
Among the S&P BSE sectoral indices, FMCG dropped 2.53 per cent, healthcare 1.55 per cent, IT 1.28 per cent, teck 1.25 per cent and consumer durables 1.03 per cent.
However, realty moved up 0.27 per cent and the PSU sector index rose 0.15 per cent.
The BSE small cap and mid cap indices gained 0.54 per cent and 0.89 per cent, respectively. The market breadth remained positive as 1,265 shares ended with gains and 1,121 finished lower.
In the previous five sessions, the 30-share Sensex rose by 669 points. Tuesday's fall in absolute terms is the worst since 30 September when it had dropped by 347.50 points.
On similar lines, the broad-based National Stock Exchange index Nifty also slipped from its record high closing level by losing 64.20 points, or 1.02 per cent to 6,253.15. On Sunday's special session, it had closed at a record 6,317.35.
Also, SX40 index, the flagship index of MCX-SX, closed at 12,494.1, down 105.43 points or 0.84 per cent.
'Profit booking after several sessions of gains led to the fall. Global indices were also trading on a cautious note,' said Rakesh Goyal, senior vice president, Bonanza Portfolio Ltd.
Brokers said a weakening trend in Asia and lower opening in Europe on growth concerns further fuelled the selling pressure in export-oriented domestic stocks.
In the Sensex pack, 22 stocks declined while just eight gained. The major losers were Bajaj Auto, Bharti Airtel, TCS, Bhel, GAIL India, HUL, ICICI Bank, Infosys, ITC, Jindal Steel and L&T.
Sectorally, the BSE FMCG sector suffered the most by losing 2.53 per cent, followed by BSE Healthcare index by 1.55 per cent, BSE IT sector index by 1.28 per cent and BSE TECK index by 1.25 per cent.
European stocks were lower in early trade as investors awaited economic forecasts from the European Union.
In the domestic market, the major losers on the Sensex were ITC (-3.52 per cent), ICICI Bank (-3.07 per cent), Sun Pharma (-2.96 per cent), Dr Reddy’s Laboratories (-2.88 per cent) and TCS (-2.74 per cent).
The gainers included Hindalco, which rose 1.47 per cent, followed by Coal India 1.42 per cent and Tata Motors 1.02 per cent.
Among the S&P BSE sectoral indices, FMCG dropped 2.53 per cent, healthcare 1.55 per cent, IT 1.28 per cent, teck 1.25 per cent and consumer durables 1.03 per cent.
However, realty moved up 0.27 per cent and the PSU sector index rose 0.15 per cent.
The BSE small cap and mid cap indices gained 0.54 per cent and 0.89 per cent, respectively. The market breadth remained positive as 1,265 shares ended with gains and 1,121 finished lower.
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