Mumbai: The benchmark BSE Sensex slipped into the negative zone by falling over 71 points and the broader Nifty was marginally lower by 20 points during mid-session trade as participants booked profits amid weak global cues.
Earlier, the market witnessed positive opening ahead of rate cut hopes in tomorrow’s RBI policy review in the backdrop of lower inflationary parameters. Buying was seen in realty, banks, FMCG, healthcare and power sector stocks. However, selling in metal, auto, IT and tech segments pulled the benchmark down by nearly 125 points before trading in a tight range. The Sensex resumed higher at 25,922.71 and moved in a range of 25,936.89 and 25,738.54, before quoting 25,792.45 at 1245 hours, a fall of 71.06 points, or 0.27 per cent.
The 50-share Nifty was also trading marginally lower by 20.10 points, or 0.26 per cent, to 7,848.40 at the same time after moving between 7,893.95 and 7,831.35. The major losers were Tata Motors (4 per cent), Coal India (2.75 per cent), Infosys (2.62 per cent), Vedanta (2.57 per cent), Sun Pharma (2.50 per cent) and Tata Motors (3.84 per cent). Notable gainers were Dr Reddy’s (5.17 per cent), Lupin (2.98 per cent), Hindustan Unilever (1.93 per cent), TCS (1.10 per cent) and SBI (0.94 per cent). Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 115.10 crore on last Thursday, says provisional data.
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