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Sensex retreats from high level at close
Last Updated : 02 Jul 2013 05:14:45 PM IST
Bombay stock exchange
File photo of Bombay stock exchange.

 

The Sensex on Tuesday retreated from one-month high levels to 19,463.82, down 113.57 points, as overseas investors booked profits in bluechips including Infosys, RIL and HDFC Bank after three straight days of gains.


Signs of fresh offloading of positions by foreign funds, weak trading in European markets and some fag-end depreciation in rupee also affected investor sentiment, said traders.

Shares from realty, PSU and refinery segments were at the receiving end while consumer durable and pharma counters attracted good buying support.

The Bombay Stock Exchange 30-share gauge remained in negative for the most of the day before settling down by 113.57 points or 0.58 pct at 19,463.82. In last three-day, S&P BSE Sensex had spurted by 1,025.18 points or 5.53 per cent.

The wide-based 50-issue CNX Nifty of the NSE dropped by 1.30 points, or 0.70 per cent, to end at 5,857.55. SX40 index, the flagship index of MCX-SX, also ended 54.34 points, or 0.47 per cent lower at 11,566.47.

Sensex retreats from one-month high, down 114 points on profit-booking at close:

Fall in heavyweights like Infosys, RIL, HDFC Bank, HDFC, L&T, ONGC, SBI, Tata Motors, Jindal Steel and Maruti mainly put pressure on Sensex. Auto stocks were weak after posting tepid monthly sales numbers. Infosys was under seller's radar on fears the IT major will scale down FY14 sales outlook.

Banking shares also saw some selling amid 26 private and pubic sector entities having applied to RBI for grant of bank licences, heightening chances of competitive intensity.

Kishor P Ostwal, CMD, CNI Research Ltd. said: "Market was rising more on short covering than buying...some cooling off has taken place. As regards bank licences, I think the story will taper of in days to come as NBFC are trailing at high valuations compared to existing banks."

The rupee was trading weak at 59.64 levels compared to yesterday's closing of 59.52 a dollar.

Globally, Asian stocks endex mixed while European markets were trading lower in their early trade as investors awaited reports on UK construction activity and US factory orders.
 


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