Profit sales spoilsport

STOCKS REPORT

Snapping its two-session positive streak, the Bombay Stock Exchange Sensex lost 1.95 per cent (117 points) to close lower at 5,876.05 on Wednesday.

The broader National Stock Exchange S&P CNX Nifty shed 2.18 per cent (41.60 points) to close at 1,863.10.

Profit taking in the cash segment and unwinding of positions in the derivatives segment led to the markets wiping off 117 points, according to players.

The mood of the market appeared cautious with the expiry of the January series futures appearing to be weighing on the sentiment.

Turnover in the F&O segment of the NSE was at an all-time high of Rs 21,921 crore.

The Sensex slipped into the negative territory almost immediately after opening higher, but recovered from lower levels to touch the day's high of 6,030.55 during late morning trades.

Hectic selling dragged the Sensex below the 5,900-mark during afternoon trades. The market pared some of the losses towards close after commerce minister Arun Jaitley began announcing the mini Exim Policy.

The Sensex touched a high of 6,030.55 and a low of 5,815.20 during intra-day trades. The sentiment seemed to have turned negative in a day of wild swings. The breadth of the market reflected this with declines outpacing advances 1210:534.

Cash market turnover was at Rs 3,414.85 crore on the BSE and Rs 7,078.90 crore at the NSE.

Hindustan Lever was down 4.41 per cent at Rs 193.10, ITC was down 3.11 per cent at Rs 1,018.45 and State Bank of India slipped 2.44 per cent at Rs 633.25, contributing to the fall of the Sensex.

Reliance Industries was down 0.56 per cent at Rs 578.30, ending with a relatively modest loss on selective buying after the company said it would set up a 3,500-MW gas-based power plant in Uttar Pradesh.

Wipro fell 4.44 per cent at Rs 1,656.70, Infosys Tech was down 2.74 per cent at Rs 5,438.35 and Satyam Computer was down 2.06 per cent at Rs 335.50.

Tata Power declined 4.39 per cent at Rs 390.55 and Reliance Energy was down 4.16 per cent at Rs 536.45.

Mahindra & Mahindra lost 3.9 per cent to close at Rs 405.65 and TVS Motor fell 5.84 per cent at Rs 104.75.

ONGC was down 4.48 per cent at Rs 774.75, MTNL lost 4.04 per cent at Rs 132.90 and Bhel fell 2.34 per cent at Rs 570.85.