Sensex sheds 114 pts on global cues

 PTI   Mumbai     Last Updated: June 2, 2011  | 16:52 IST

The BSE benchmark Sensex on Thursday fell 114 points to 18,494.18 as investors booked profits amid overseas concerns as the US market on Wednesday dived on release of a weak manufacturing and jobs data in the country.

However, a slight dip in food inflation, which fell to 8.06 per cent during the week under review from 8.55 per cent in the previous week, capped the losses.

Bombay Stock Exchange 30-share index, Sensex, which had gained over 376 points in the last two trading sessions, fell by 114.63 points as investors preferred to book profits after the two-day rally.

Broad-based National Stock Exchange index Nifty, too, fell by 41.65 points to 5,550.35 level.

Brokers said trading sentiment turned bearish as Asian stocks dropped for the first time in three days, the regional indices fell to their biggest drop since May 23, spurred by the rout in the US market yesterday.

The banking stocks index suffered the most by 1.52 per cent to 12,378.69 as ICICI Bank fell by 3.10 per cent to Rs 1,051.40 and HDFC Bank by 1.27 per cent to Rs 2,358.95.

The metal sector index lost 1.32 per cent to 15,241.99 followed by realty sector index by 1.26 per cent to 2,144.42.

The auto sector index lost 1.16 per cent to 8,836.14 as Tata Motors declined by 2.81 per cent to Rs 1,049.10 and Mahindra and Mahindra by 2.19 per cent to Rs 660.85, Maruti Suzuki by 2.03 per cent to Rs 1,223.50.

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