Sensex snaps four-day rally, dips 34 pts
5 Dec 2012 4:50 AM IST
Snapping a four-day rally, the BSE benchmark Sensex on Monday fell over 34 points from its 19-month high to close at 19,305.32 on emergence of profit-selling by investors ahead of the impending decision in Parliament on FDI in retail.
The Sensex, which had rallied 835 points in last four sessions, fell by 34.58 points, or 0.18 per cent to settle at 19,305.32. Last week, the gauge had posted its biggest gain in almost six months on heavy capital inflows. The broad-based National Stock Exchange index Nifty on Monday fell by 8.90 points, 0.15 per cent to close at 5,870.95, after touching the day’s low of 5,854.60.
Brokers said after a steep rise of 4.5 per cent in benchmark indices in the past week, stocks attracted profit booking and this mainly halted the strong rally. Among Sensex stocks, the downfall on Monday was led by banking sector as HDFC Bank, the second-largest private lender dropped 2.37 per cent. Investors adopted a cautious stance ahead of the vote on FDI. The Rajya Sabha has decided to have a discussion on December 6 and 7 on the issue, soon after the Lok Sabha which will have a similar discussion on December 4 and 5.
A weak trend in the Asian region also dampened the sentiment as reports said US lawmakers continued to debate over a budget compromise to avert a US ‘fiscal cliff’. While banking, FMCG and Tech sector indices remained in the negative zone, an upsurge in Auto, realty, metal and power sector cushioned the market to some extent. European markets, however, exhibited a firm trend. France’s CAC was up by 0.53 per cent.
Rs LOSES 51 PAISE TO END AT 54.77 PER $
The rupee breached its straight three session of winning string and tumbled by a whopping 51 paise to end at 54.77 against the dollar on weak local equities amid fresh heavy dollar demand from importers and some banks.
Increased capital inflows amid weak dollar overseas made a feeble attempt to stem the rupee fall, a forex dealer said. Fresh dollar demand from importers, mainly oil refiners, and banks affected the rupee value.
The Sensex, which had rallied 835 points in last four sessions, fell by 34.58 points, or 0.18 per cent to settle at 19,305.32. Last week, the gauge had posted its biggest gain in almost six months on heavy capital inflows. The broad-based National Stock Exchange index Nifty on Monday fell by 8.90 points, 0.15 per cent to close at 5,870.95, after touching the day’s low of 5,854.60.
Brokers said after a steep rise of 4.5 per cent in benchmark indices in the past week, stocks attracted profit booking and this mainly halted the strong rally. Among Sensex stocks, the downfall on Monday was led by banking sector as HDFC Bank, the second-largest private lender dropped 2.37 per cent. Investors adopted a cautious stance ahead of the vote on FDI. The Rajya Sabha has decided to have a discussion on December 6 and 7 on the issue, soon after the Lok Sabha which will have a similar discussion on December 4 and 5.
A weak trend in the Asian region also dampened the sentiment as reports said US lawmakers continued to debate over a budget compromise to avert a US ‘fiscal cliff’. While banking, FMCG and Tech sector indices remained in the negative zone, an upsurge in Auto, realty, metal and power sector cushioned the market to some extent. European markets, however, exhibited a firm trend. France’s CAC was up by 0.53 per cent.
Rs LOSES 51 PAISE TO END AT 54.77 PER $
The rupee breached its straight three session of winning string and tumbled by a whopping 51 paise to end at 54.77 against the dollar on weak local equities amid fresh heavy dollar demand from importers and some banks.
Increased capital inflows amid weak dollar overseas made a feeble attempt to stem the rupee fall, a forex dealer said. Fresh dollar demand from importers, mainly oil refiners, and banks affected the rupee value.
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