Sensex chops off 130 pts on profit booking
Mumbai: Markets ended with losses succumbing to profit booking by cautious participants on Monday. The rupee’s continuous strength (65.31 intra-day) against the dollar weighed on IT stocks dragging the Sensex down, amid mixed global cues. While the BSE Sensex shaved off 130.25 points, or 0.44%, closing at 29518.74, Nifty wrapped up the session at 9126.85, after dropping 33.20 points, or 0.36%. Among the 30-share Sensex components, Axis Bank emerged as the top loser by falling 2.41% to Rs 504.55, followed by ICICI Bank 1.99% to Rs 275.15. Idea Cellular tumbled 9.55% to Rs 97.60 after the company announced its merger with Vodafone India. Infosys, TCS, Wipro, RIL, Tata Steel, L&T, Hind Unilever, PowerGrid, Maruti Suzuki and Mahindra
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& Mahindra stood among other laggards. However, NTPC, Coal India, Bharti Airtel, HDFC Bank, Lupin, HDFC Ltd, ONGC, GAIL and Asian Paints ended with gains up to 0.87% which cushioned the losses. The BSE IT index suffered the most by losing 1.36%, followed by technology, oil and gas, and bank. Outperforming the Sensex, the broader markets remained firm as investors were seen widening their bets, lifting the small-cap index by 0.30% and mid-cap by 0.17%. Globally, most Asian markets ended higher, Japanese markets were shut for a public holiday while European markets ended in the red.
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