Mumbai: Equity Benchmark Sensex And smelly Investors sold telecom, power and utility stocks amid a bearish trend in global markets and profit-booking, which on Monday ended pared early gains.
Vigorous selling in private bank counters like ICICI Bank Brokers said Kotak Bank also dragged the indices down.
After hitting its all-time high on Friday, the 30-share BSE index closed 216.28 points, or 0.34 per cent, lower at 63,168.30. During the day, it fell 336.75 points, or 0.53 per cent, to 63,047.83.
Traders said there was a spurt in selling, especially in afternoon trade, as the key Sensex went down from record highs.
nse nifty It finally closed at 18,755.45, down 70.55 points or 0.37 per cent.
“Indian stocks just shy of closing all-time higher amid profit-booking mainly driven by private banks. Global markets also heaved a sigh of relief after a strong rally last week as investors braced for China’s rate decision and Fed chairman Awaiting testimony,” said Vinod Nair, head of research at Geojit Financial Services.
Kotak Mahindra Bank was the biggest loser in the Sensex pack, shedding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle.
In contrast, Bajaj Finance, Bajaj Finserv, Tech MahindraTata Consultancy Services, Titan, Infosys, HDFC bankHDFC and ITC remained in profit.
Seoul, Tokyo, Shanghai and Hong Kong closed with losses in Asian markets.
European equity markets were trading in the negative territory. US markets closed down on Friday.
Global oil benchmark Brent crude fell 0.38 per cent to $76.31 a barrel.
Foreign institutional investors (FIIs) bought equities worth Rs 794.78 crore on Friday, according to exchange data.
On Friday, the BSE benchmark closed at a record high of 63,384.58, up 466.95 points or 0.74 per cent. The Nifty closed at its life-high of 18,826, up 137.90 points or 0.74 per cent.
Vigorous selling in private bank counters like ICICI Bank Brokers said Kotak Bank also dragged the indices down.
After hitting its all-time high on Friday, the 30-share BSE index closed 216.28 points, or 0.34 per cent, lower at 63,168.30. During the day, it fell 336.75 points, or 0.53 per cent, to 63,047.83.
Traders said there was a spurt in selling, especially in afternoon trade, as the key Sensex went down from record highs.
nse nifty It finally closed at 18,755.45, down 70.55 points or 0.37 per cent.
“Indian stocks just shy of closing all-time higher amid profit-booking mainly driven by private banks. Global markets also heaved a sigh of relief after a strong rally last week as investors braced for China’s rate decision and Fed chairman Awaiting testimony,” said Vinod Nair, head of research at Geojit Financial Services.
Kotak Mahindra Bank was the biggest loser in the Sensex pack, shedding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle.
In contrast, Bajaj Finance, Bajaj Finserv, Tech MahindraTata Consultancy Services, Titan, Infosys, HDFC bankHDFC and ITC remained in profit.
Seoul, Tokyo, Shanghai and Hong Kong closed with losses in Asian markets.
European equity markets were trading in the negative territory. US markets closed down on Friday.
Global oil benchmark Brent crude fell 0.38 per cent to $76.31 a barrel.
Foreign institutional investors (FIIs) bought equities worth Rs 794.78 crore on Friday, according to exchange data.
On Friday, the BSE benchmark closed at a record high of 63,384.58, up 466.95 points or 0.74 per cent. The Nifty closed at its life-high of 18,826, up 137.90 points or 0.74 per cent.