Sensex falls below 30,000 mark at 29,918 Sensex figures out to hold 9,300


Sensex fell more than 100 points and Nifty withdrew advance on Friday from record highs hit not long ago as investors booked profits in late outperformers like ITC, HDFC, HDFC Bank, Reliance Industries and Larsen and Toubro in front of a long end of the week.

The benchmark BSE Sensex and the broader NSE Nifty gained 2 percent this week. The rally in stock exchanges is going on back of any expectations of enhancing corporate profit. In the mean time, quickening monetary development lifted the indexes to unequaled highs.

“Markets have been rising for so long. Any selloff can be incompletely credited to profit taking, particularly in front of the long weekend,” said Deepak Jasani, head of retail research at HDFC Securities.

Indian markets are shut on Monday for an public holiday.

The Sensex finished 111 points bring down at 29,918 and Nifty declined 38 points to settle at 9,304.

From the Nifty basket of shares, 26 ended higher while 25 finished lower. Bharti Infratel, ITC, HDFC, HDFC Bank, Reliance Industries, TCS, Cipla, Hindustan Unilever, Infosys and Indian Oil were among the failures. Then again, ONGC was the top Nifty gainer, up 4 losers to close at Rs. 187.

Maruti Suzuki touched record high of Rs. 6,589.80, a day after the carmaker announced its March quarter income. SBI, ICICI Bank, Tata Motors, Asian Paints, Indiabulls Housing Finance and Sun Pharma were likewise among the gainers.

On the sectoral front, FMCG, capital goods, IT, realty and oil and gas files finished lower while banking, metal and healthcare lists finished higher.

The broader markets beat the benchmark files with little top file closing 0.6 percent higher while the mid-cap index bounced 0.17 for percent.


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