Mumbai : Mirroring global weakness, the Sensex on Tuesday took its first hit in seven sessions by falling 112 points ahead of key central bank announcements, including US Fed’s June minutes.
In the process, the barometer came off its 8-month high, which was achieved on Monday.
The expansion of the much-publicised Union Cabinet failed to move investors in a big way. A private PMI survey showed that the service sector activity, fell to 50.3 in June, from 51 in May, the lowest for the index in seven months and the second-lowest in a year.
The rupee today lost some of its sheen against the dollar as it ended lower. All this threw a spanner in the works as profit-booking in recent gainers picked up, reports PTI.
The 30-share barometer closed at 27,166.87, a loss of 111.89 points, or 0.41 per cent. The index had risen over 881 points in the past six sessions. The 50-share NSE Nifty too slipped from its 10-month high by settling lower by 34.75 points, or 0.42 per cent, at 8,335.95.
“The market capped the winning streak after investors locked in profits as the market was in an overbought position,” said Manoj Choraria, a Delhi-based NSE stock broker.
Of the 30-share Sensex pack, 19 ended with losses and 11 turned higher. Besides, participants reduced their bets as stock markets will be shut tomorrow on account of Id-Ul-Fitr. A weak trend in Asia with an eye on a brewing crisis in Italy’s banking industry too dampened sentiment here. GAIL sank the most, plunging 2.45 per cent. Power Grid was down 2.36 per cent. Others that weighed on the index include Bharti Airtel, Hero MotoCorp, Tata Motors, NTPC, Asian Paint, Bajaj Auto, ICICI Bank, Axis Bank, Infosys, ONGC, ITC Ltd, M&M and TCS Ltd, falling by up to 2.16 per cent.
