Benchmark equity indices Sensex and Nifty tumbled on Monday after a four-day rally amid emergence of profit-taking, mainly in bank stocks.
Photograph: ANI Photo
After staying in the negative territory throughout the day, the 30-share BSE Sensex later dropped 452.44 points or 0.54 per cent to settle at 83,606.46.
During the day, it tanked 576.77 points or 0.68 per cent to 83,482.13.
The 50-share NSE Nifty declined 120.75 points or 0.47 per cent to 25,517.05.
From the Sensex firms, Axis Bank, Kotak Mahindra Bank, Maruti, UltraTech Cement, Bajaj Finance, ICICI Bank, Reliance Industries, Tata Steel, Bharti Airtel and HDFC Bank were among the major laggards.
However, Trent, State Bank of India, Bharat Electronics, Titan and Bajaj Finserv were among the gainers.
In the past four trading days, the Sensex jumped 2,162.11 points or 2.64 per cent and the Nifty surged 665.9 points or 2.66 per cent.
“The global market sentiment is moving in favour of equities on account of easing risk in the Middle East and the US trade deal hopes.
“However, the main domestic indices witnessed profit-booking after the recent rally.
“Investors are now turning their attention to quarterly earnings and will refocus the markets on fundamentals for valuation support,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled in the positive territory while Hong Kong’s Hang Seng ended lower.Foreign Institutional Investors (FIIs) bought equities worth Rs 1,397.02 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dipped 0.15 per cent to $67.67 a barrel.
