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Sensex retreats from record level, plunges by 207 points
Offloading of positions by participants with Thursday being the last trading session of October series contracts in the derivatives segment pulled the index back from record levels, a broker said.
By
migrator
migrator
Mumbai
The BSE benchmark fell by over 200 points, pulling back from its record highs, on heavy profit booking in banking, FMCG, oil and gas, pharma and capital goods stocks after a recent rally.
Offloading of positions by participants with Thursday being the last trading session of October series contracts in the derivatives segment pulled the index back from record levels, a broker said.
The 30-share index opened gap down at 33,025.17 against Wednesday’s record close of 33,042.50 and quickly raced to a high of 33,074.91.
However, the index retreated on emergence of profit booking in recent gainers to touch a low of 32,835.06, down by 207.44 points or 0.62%.
The gauge had gained 659.57 in the previous three sessions.
Sectoral indices led by consumer durables, power, FMCG, infrastructure and auto stocks were trading in the red, falling up to 0.43%.
The NSE Nifty fell by 21.40 points, or 0.20%, to 10,273.95.
Major losers were HDFC Ltd., Asian Paints, HDFC Bank, Hind Unilever and Kotak Bank with losses of up to 1.66%.
State-run lenders continued their upward trend as PNB, SBI and Bank of Baroda rose up to 9.68%.
Asian markets were mixed with Hong Kong’s Hang Seng dropping 0.15% while Japan’s Nikkei moving up by 0.16% in early trade. The Shanghai Composite Index too inched up by 0.18%.
The U.S. Dow Jones Industrial Average ended 0.48% lower on October 25.
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