Mumbai, India (BBN) – Snapping its three-day winning streak, market benchmark BSE Sensex was trading down by over 30 points due to profit-booking by funds and retail investors despite firm Asian cues.
The 30-share barometer, which had gained 61.70 points in the previous three straight sessions, was trading lower by 30.50 points, or 0.11 per cent, at 28,321.12, with metal, PSU, consumer durables and TECk stocks leading the losses, reports The Hindu Business Line.
On similar lines, the NSE Nifty slipped below the 8,800-mark by falling 12.75 points, or 0.14 per cent, at 8,792.30 points.
Brokers said domestic sentiment turned weak as WPI inflation for January jumped to 5.25 per cent from 3.39 per cent in the previous month.
Barring infrastructure, all other BSE sectoral indices were trading in the red. Among them, metal index fell the most by 1.56 per cent, followed by PSU 0.77 per cent, consumer durables 0.73 per cent and TECk 0.31 per cent, while infrastructure index was up 0.04 per cent.
Top five Sensex gainers were Reliance (+2.02 per cent), GAIL (+1.59 per cent), ONGC (+1.38 per cent), Adani Ports (+1.25 per cent) and ICICI Bank (+0.64 per cent), while the major losers were Hero MotoCorp (-1.9 per cent), HUL (-1.81 per cent), Axis Bank (-1.27 per cent), Power Grid (-1.26 per cent) and Coal India (-1.22 per cent).
Asian shares inched to 19-month highs on Tuesday as the potential for economic stimulus in the United States lifted the dollar, bond yields and Wall Street stocks.
The dollar was also bolstered by speculation the head of the Federal Reserve would underline the prospects of more US rate hikes when she testifies to Congress later on Tuesday.