Live
- CLAT-PG: Delhi HC to hear on July 17 plea challenging 'exorbitant' confirmation fee
- Kay Kay Menon: Himmat Singh will always be Himmat Singh in the way he operates, no change
- Uttarakhand: Political row erupts as licensing becomes mandatory for food vendors during Kanwar Yatra
- Bihar: Massive fire at Patna’s Saguna Mor, blaze engulfs upscale restaurant
- Hyundai Motor, Kia open participatory research hub
- Projects under 15th Finance Commission should be completed on time: Ajit Pawar
- Mayawati slams UP govt's school merger move, calls it unfair to poor students
- Gangster Salman, illegal arms supplier arrested in Rajasthan
- 'Congress not concerned about country's pride': Jyotiraditya Scindia on Rahul's 'surrender' jibe
- Woltemade goes off-grid as Bayern-Stuttgart transfer saga grows
Benchmarks snap 4-day rally on profit-taking in bank stocks
Mumbai: Benchmark equity indices Sensex and Nifty tumbled on Monday after a four-day rally amid emergence of profit-taking, mainly in bank stocks. ...
Mumbai: Benchmark equity indices Sensex and Nifty tumbled on Monday after a four-day rally amid emergence of profit-taking, mainly in bank stocks.
After staying in the negative territory throughout the day, the 30-share BSE Sensex later dropped 452.44 points or 0.54 per cent to settle at 83,606.46. During the day, it tanked 576.77 points or 0.68 per cent to 83,482.13. The 50-share NSE Nifty declined 120.75 points or 0.47 per cent to 25,517.05.
From the Sensex firms, Axis Bank, Kotak Mahindra Bank, Maruti, UltraTech Cement, Bajaj Finance, ICICI Bank, Reliance Industries, Tata Steel, Bharti Airtel and HDFC Bank were among the major laggards. However, Trent, State Bank of India, Bharat Electronics, Titan and Bajaj Finserv were among the gainers.
The BSE smallcap gauge climbed 0.81 per cent and midcap index went up by 0.67 per cent. Among BSE sectoral indices, realty dropped 0.87 per cent, bankex (0.59 per cent), auto (0.49 per cent), metal (0.49 per cent), oil & gas (0.19 per cent) and financial services (0.17 per cent). Capital goods jumped 1.10 per cent, services (1.08 per cent), industrials (0.66 per cent), healthcare (0.56 per cent) and consumer durables (0.42 per cent).
“Last week, the market had seen a sharp upsurge on the back of strong global cues and domestic institution buying, however, profit-taking came to the fore which pulled down benchmark indices. “The focus will be on tariff settlement with the US government, as the due date is nearing and India is yet to conclude the agreement which could create uncertainty amongst the investors. While volatility will continue, India’s strong growth prospects going forward would temper the fall,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
In the past four trading days, the Sensex jumped 2,162.11 points or 2.64 per cent and the Nifty surged 665.9 points or 2.66 per cent. “The global market sentiment is moving in favour of equities on account of easing risk in the Middle East and the US trade deal hopes.
