Retreating from one-week highs, the benchmark Sensex today closed about 55 points down at 25,313.74 on weak global cues due to deepening Iraq crisis and caution ahead of the expiry of June derivative contracts.
Persisting concern over below-average monsoon and the likely effect on food-grain prices also kept investors in a jittery mood, said equity dealers.
Shares from refinery, capital goods, banking and FMCG segments were in demand while from auto, pharma, realty and consumer durables attracted profit-booking.
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Gains were noticed in Sensex-based counters like SBI, Maruti Suzuki, Bajaj Auto, M&M, Tata Motors, Hero MotoCorp, HUL and GAIL. However, fall in heavyweights like ITC, ICICI Bank, RIL, ONGC, L&T and HDFC Bank, dragged down Sensex lower.
Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Local equities opened positively, but as day progressed indices lost its way and closed weak. Today profit booking was seen. Investors preferred to stay cautious ahead of the expiry of June derivatives lined up for tomorrow."
The BSE 30-share barometer resumed better and initially touched a high of 25,427.80. Later, it fell back and was trapped in a narrow range for sometime. It finally ended at 25,313.74, a net fall of 55.16 points or 0.22 per cent.
Yesterday, it had spurted by 337.58 points, or 1.35 per cent, to end one-week high on easing global crude oil prices.
The wide-based 50-issue CNX Nifty of the NSE also eased by 10.95 points, or 0.14 per cent, to end at 7,569.25.
Automobile stocks caught buyers' fancy at the fag-end after government extended excise duty concessions by 6 months.
Militants launched a dawn raid today on a key Iraqi oil refinery they have been trying to take for days but were repelled by security forces. US benchmark West Texas Intermediate rose 17 cents to USD 106.20 a barrel while Brent crude eased 65 cents to USD 113.81.
Asian stocks closed lower as escalating violence in the Middle East sapped demand for riskier assets. Indices from China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended down. European barometers was also trading weak in late morning deals.
