Sensex Slips 67 Points, Nifty 27 Points Amid Profit-booking

Amid negative global trends, IT, metals, auto and pharma showed some resilience
Sensex Slips 67 Points, Nifty 27 Points Amid Profit-booking
Sensex Slips 67 Points, Nifty 27 Points Amid Profit-booking

Sensex surrendered early gains to end 67 points lower on Wednesday as investors booked profits at higher levels amid a largely negative trend in global markets. Nifty too slipped 26.95 points or 0.17 per cent to close at 15,721.50, as did the rupee, which fell 9 paise to close at 74.32 against the dollar.

Meanwhile, India saw a single day rise of 45,951 coronavirus infections, taking the total tally of Covid-19 cases to 3,03,62,848, while daily fatalities remained below 1,000 for the third consecutive day, according to the Union Health Ministry data updated on Wednesday.

After rallying nearly 400 points during the day, the 30-share BSE index made a U-turn to settle 66.95 points or 0.13 per cent lower at 52,482.71. PowerGrid was the top loser in the Sensex pack, shedding over 1 per cent, followed by Bajaj Finserv, ICICI Bank, HDFC, NTPC, HUL and L&T, while Infosys, Reliance Industries, Nestle India and Martui made gains.

"Domestic benchmark indices gave up gains towards the final session as continued profit-booking in financials dragged markets," said Binod Modi, head of strategy at Reliance Securities. However, buying was visible in IT, metals and auto companies, while pharma broadly remained resilient. Further, RIL also aided market to arrest the fall. Notably, midcap and smallcap stocks continued to outperform broader indices, he said, adding that volatility index corrected marginally.

Elsewhere in Asia, bourses in Hong Kong and Tokyo ended in the red, while Shanghai and Seoul closed with gains. Equities in Europe were trading with losses in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.79 per cent higher at $74.87 per barrel.

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