Profit booking in metal, auto, cap goods and IT shares saw markets reverse early gains and end lower on Wednesday. The Sensex fell 219 points to end at 14,843, after gaining as much as 2 per cent in early trade. The Nifty dropped 1.5 per cent to close at 4,398.
During today’s session, the Sensex had hit its day’s high of 15,369 on the back of higher Asian markets and Wall Street but weak European markets reversed the investor sentiment, pushing investors to book profits after strong gains in the past few sessions.
All sectoral indices on the BSE ended lower today. The BSE capital goods index fell 1.8 per cent on selling in BEL and Thermax. The stocks fell over 5 per cent each.
The auto index on the BSE dropped 1.6 per cent.
Power and IT stocks also trended lower today. The BSE power index and the BSE IT index shed 1.6 per cent each. In the IT space, Tech Mahindra, HCL Tech and Rolta were the biggest losers. The stocks fell over 4.7 per cent each.
In the Sensex space, 4 counters rose while 26 stocks fell. HDFC was the biggest loser, down 4.4 per cent to Rs 2,410. Hindalco, Reliance Infra and Grasim Industries were the other main losers, down over 3.3 per cent each. Software major Wipro shed 1.5 per cent to finish at Rs 451. The company reported 11.86 per cent increase in consolidated net profit at Rs 1,015.50 crore for the first quarter ended June 30, 2009.
ONGC, however, was the biggest gainer in the group. The stock rose 4.6 per cent to Rs 1,092.
