Sensex snaps week long rally
The stock markets ‘snapped’ on Tuesday in connection with the rally in the last seven trading sessions. The Sensex lost 54 points as investors cut profits at higher levels.
The 30-share Sensex of the Bombay Stock Exchange ended the day at 40,248.23, a loss of 53.73 points, or 0.13 per cent, after trading up by 413 points during trading. The Sensex touched a low of 40,053.55 points during trading. It also touched a high of 40,466.55.
The National Stock Exchange’s Nifty closed at 11,917.20 points, a loss of 24.10 points or 0.20 percent. Among the Sensex companies, shares of IndusInd Bank, Sun Pharma, Infosys, Tata Steel and Mahindra & Mahindra lost up to 2.40 per cent.
On the other hand, Yes Bank shares rose 3.40 percent. Rakesh Jhunjhunwala, a major investor, has bought about 87 crore shares of the bank through open market transactions. Bajaj Finance, Bharti Airtel, SBI, Bajaj Auto, ITC, Hero MotoCorp and Tech Mahindra also gained 2.77 per cent.
Analysts said profit-booking in the stock markets declined after registering gains for seven consecutive working days. Expecting US-China trade agreement, China’s Shanghai, Hong Kong’s Hang Seng, Japan’s Tokyo and South Korea’s Seoul markets closed in profit.
European markets were also profitable in early trade. Meanwhile, the rupee was trading 10 paise higher at 70.66 to the dollar in intra-day foreign exchange market. Brent crude oil futures were up 0.82 percent at $ 62.65 a barrel.
