Sensex falls from 7-mth high on profit selling; loses 283 pts

The BSE benchmark index Sensex today fell from seven-month high levels losing 283 points on profit-booking mainly in realty, banking and oil and gas stocks.

The 30-share barometer, which had gained 275 points in last two trading sessions to touch a seven-month high, fell by 283.36 points, or 1.54 per cent to 18,145.25 points.

Similarly, the broad-based National Stock Exchange index Nifty fell by 101.80 points, or 1.82 per cent to 5,505.35. Selling pressure gathered momentum in bluechip led by Reliance Industries and banking stocks, which had gained significantly in last few sessions.

The off-loading by investors was mainly due to current month settlement in the derivatives segment tomorrow. Market major Reliance Industries fell by 1.02 per cent to Rs 833.20 and state-run lender State Bank of India fell by 7.91 per cent to Rs 2,257.80. ICICI Bank fell by 3.42 per cent to Rs 957.15.

The realty sector index dropped the most by losing 6.77 per cent to 2,023.10 followed by consumer durable index by 4.93 per cent to 6,527.68. The metal index lost 4.29 per cent to 12,115.08 and banking index by 3.82 per cent to 12,348.87.

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