Volatile BSE Sensex snaps 3-day winning run, Larsen and Toubro, HDFC Bank shares fall

Jan 06 2014, 14:25 IST
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BSE Sensex had gained 477.75 points in the previous three sessions. Reuters BSE Sensex had gained 477.75 points in the previous three sessions. Reuters
SummaryIn volatile trade, BSE Sensex closed 43.09 points down today.

In volatile trade, the benchmark BSE Sensex broke a three-day upmove and closed 43.09 points down today on emergence of profit-booking and weak global cues, amid renewed fears of US Fed tapering its economic stimulus.

Markets Top Gainers, Markets Top Losers

Sectors including FMCG, consumer durables and banking saw selling while realty, oil and metal scrips witnessed buying.

The BSE Sensex, which had gained 477.75 points in the previous three sessions and touched a one-month high, resumed lower reacting to tepid global markets. Later, it hit a high of 20,927.05 but could not sustain gains. The index finally closed down 43.09 points, or 0.21 per cent, at 20,854.92.

Losses in ITC Ltd, Larsen & Toubro (L&T) and HDFC Bank shares dragged the 30-share barometer lower. Dr Reddy's Laboratories and Sesa Sterlite were the biggest laggards. On the other hand, gains in RIL, GAIL and Infosys shares cushioned the drop.

Brokers said profit-booking was triggered by a weakening trend in global markets nature following three days of gains.

The 50-share NSE Nifty index fell by 16 points, or 0.26 per cent to end at 6,201.85. Also, SX40 index of MCX Stock Exchange ended almost flat at 12,371.94, down 3.82 points.

"Nifty oscillated throughout the day within a mere range of 20 points as it nears the upper end of the broad range. The broad trading range continues to be 6250-5950. Hence, the existing up move may extend by another 50-60 odd points," said Shubham Agarwal, Associate VP & Senior Technical Equities Analyst, Motilal Oswal Securities.

Analysts said the Asian markets ended weak followed by a lower opening in Europe as investors awaited US jobs data.

Recent economic growth signals have sparked off fresh fears of the US Federal Reserve tapering its USD 85 billion monthly bond buys, they added.

Overall, seven of the 13 BSE sectoral indices closed in the red. The FMCG sector index suffered the most by losing 0.83 per cent, follwed by consumer durables (0.58 per cent), banking index (0.56 per cent) and auto index (0.43 per cent).


* BSE index falls 0.21 pct; NSE ends 0.26 pct lower

* RBI proposes new capital rules for too-big-to-fail Indian banks

* Eicher surges to all-time high on overseas buying-dealers

Indian shares snap 3-day winning streak


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