News Brief

Sensex breaks 3-day gaining spree, ends lower at 39,756.81 pts due to profit booking by investors

Sensex breaks 3-day gaining spree, ends lower at 39,756.81 pts due to profit booking by investors

Snapping the winning streak of last three sessions, the BSE Sensex fell on Wednesday by 193.65 points to end negative at 39,756.81, as investors booked profit at higher level, amidst weaker cues from global peers.

The Nifty of National Stock Exchange (NSE) too dropped by 59.40 points to 11,906.20.

The Sensex, which had gained by 420 points in past three sessions, rose by 24 points to 39,974.18 in early trade and then edged up further by 32 points, to touch day’s high of 39,982.10.  However, it sank by 327 points to hit day’s low of 39,623.53 in intra day. Finally, it closed at 39,756.81, sliding by 193.65 points versus its last close.

The Nifty registered day’s high and low at 11,962.45 and 11,866.35 points, respectively.

The sell-off in sectoral indices like Industrial, Telecom, Auto, Capital Goods and Realty dragged the market down on Wednesday, along with scrips of Yes Bank, Maruti Suzuki, Tata Motors DVR, Kotak Bank and HeroMoto Corp.

While, buying in Tata Steel, ONGC and VEDL capped its further losses, brokers informed.

The broader markets underperformed the Sensex, as the BSE Mid-Cap index and Small-Cap lost by 0.79 per cent and 0.48 pc, respectively.

The market breadth was negative on BSE, as 1,029 shares advanced against 1,482 declined and 168 were unchanged.

Elsewhere in the world, global shares declined on persistent worries over China-US trade war flared up, curbing risk appetite.

The European stocks were trading lower on Wednesday amid ongoing China-US trade tussle, while Asian stocks ended lower.

China’s inflation data showed the producer price index in the country rising 0.6 pc year-on-year in May. The consumer price index also rose 2.7 pc year-on-year in the same period.

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