Sensex tumbles over 500 points on profit booking, Nifty ends below 17,050


Photo source: PTI (file)

Sensex falls more than 500 points in profit booking, Nifty ends below 17,050

Benchmark stock indices Sensex and Nifty fell nearly 1 percent on Wednesday on profit bookings in financial and IT stocks following recent rally.

The 30-share BSE Sensex fell 537.22 points, or 0.94 percent, to 56,819.39. During the day, it fell 772.57 points, or 1.34 percent, to 56,584.04. The NSE Nifty fell 162.40 points, or 0.94 percent, to 17,038.40.

From the 30-share Sensex pack, Bajaj Finance, Bajaj Finserv, ICICI Bank, Titan, Dr Reddy’s, Wipro, State Bank of India, Infosys, Maruti and UltraTech Cement are lagging behind. In contrast, Tata Steel, Asian Paints, HCL Technologies, TCS, Kotak Mahindra Bank, Reliance Industries and HDFC Bank were the gainers.

Asian markets were mixed, with Tokyo and Seoul settling below 1 percent, while Hong Kong and Shanghai finished higher. European markets were trading green in the afternoon session. Stocks in the United States fell significantly on Tuesday.

The Sensex jumped 776.72 points, or 1.37 percent, to 57,356.61 on Tuesday. The Nifty rose 246.85 points, or 1.46 percent, to 17,200.80.

International oil benchmark Brent crude rose 0.89 percent to 5 105.81 a barrel. Foreign institutional investors continued their sell-off by offloading shares worth Rs 1,174.05 crore on Tuesday, according to the stock exchange.

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