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Sensex loses steam as investors book profit

In a volatile trading, the 30-share index shuttled between 19,981.96 and 20,157.51 points during the day. The NSE index Nifty fell 6.15 point to close at 6,029.50 points.

twitter-logoPTI | September 28, 2010 | Updated 16:52 IST

Snapping a two-day upward march, the Bombay Stock Exchange benchmark Sensex on Tuesday closed marginally lower by 12.52 points, at 20,104.86 points, on profit booking by investors amid weak global cues.

Brokers said profit-booking emerged at existing higher levels, as investors indulged in reducing their portfolios ahead of the expiry of September month contract in the derivatives segment on Thursday.

In a volatile trading, the 30-share index shuttled between 19,981.96 and 20,157.51 points during the day.

The broad-based National Stock Exchange index Nifty fell 6.15 point to close at 6,029.50 points.

A weakening trend in the Asian region and lower opening in Europe influenced the market sentiment and capped the last 30-minute recovery, leaving the benchmark to settle a little lower, marketmen said.

Reliance Industries, which carries maximum weight in the Sensex pack, fell 1.12 per cent, or Rs 11.30, to Rs 998.25.

The second-heaviest in the market, software exporter Infosys Technologies lost 0.29 per cent, or Rs 8.80, to Rs 3,016.65. The two stocks carry nearly 23 per cent weightage in the index.

Among other software exporting companies, Tata Consultancy Services dropped Rs 6.90 to Rs 920.40 and Wipro, the third-biggest, Rs 2.95 to Rs 441.60.

The oil and gas sector suffered the most by losing 0.83 per cent to 10,647.86, followed by information technology sector index, which lost 0.50 per cent to 5,914.81. The Tech index also fell 0.36 per cent to 3,719.64.

As the investors shifted their funds to other sectors, midcap sector index rose 0.20 per cent to 8,158.37 and smallcap index 0.03 per cent to 10,284.03.

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