Sensex Slips 100 Points As Six-Day Record Run Finally Stopped
The growing Sensex slipped from lifetime highs to fall over 100 points to 37,381.05 today as markets took a breather after six consecutive record-setting sessions.
Weak trend in other Asian markets, muted earnings and fresh foreign capital outflows weighed on investor sentiment here.
Overall market mood was cautious as investors were on a wait-and-watch mode ahead of RBI policy outcome, scheduled tomorrow, and profit-booking at record level, brokers said.
The 30-share Sensex, after rising to 37,534.95 points in early trade, turned negative and retreated from record high by losing 113.55, or 0.30 per cent, to 37,381.05.
The gauge had gained 998.03 points in the previous six sessions.
The broader Nifty also slipped from record high by falling 35.40 points, or 0.31 per cent, to 11,284.15.
Major losers were HDFC, Vedanta, Tata Steel, ICICI Bank, ITC, Tata Motors, Wipro, Kotak Bank, TCS, HDFC Bank, Infosys, SBI and Coal India, falling up to 1.14 per cent.
Sectoral indices led by metal, teck, IT, infrastructure, FMCG, banking, PSU, capital goods and oil & gas stocks were trading in the negative zone.
Foreign portfolio investors (FPIs) sold shares worth a net of Rs 234.04 crore, while domestic institutional investors (DIIs) bought shares worth a net of Rs 48.58 crore yesterday, provisional data showed.
Asian shares were trading lower after Wall Street posted losses amid weakness in the technology sector.
Japan’s Nikkei shed 0.39 per cent, Hong Kong’s Hang Seng was down 0.56 per cent, while Shanghai Composite index fell by 0.03 per cent in early trade today.
The US Federal Reserve’s Federal Open Market Committee, meanwhile, was due to begin its own monetary policy meeting today, with a decision due on Wednesday. The Fed is expected to keep rates steady at the end of its meeting.
Dow Jones Industrial Average ended lower by 0.57 per cent in yesterday’s trade.