JOIN US The BSE benchmark Sensex on Friday shed nearly 150 points, the biggest fall in a month, on selling in auto, IT, power and capital goods counters.
Brokers said profit-booking emerged at existing higher levels. Sentiment was dampened by an IMF report that said slowdown in Indian economy is attributable to “internal factors”, they added.
The Sensex resumed higher at 22,522.46 but immediately came in the negative terrain. In choppy trade, it touched the day's low of 22,339.40 in the late afternoon trade.
It closed at 22,359.50, a loss of 149.57 points of 0.66 per cent from its previous close. This is the second straight day the Sensex is registering losses. Snapping the six-day rally, the barometer had slipped 42 points on Thursday.
The NSE 50-share Nifty also declined by 41.75 points or 0.62 per cent to finish at 6,694.35.
“Markets ended the week flat after rising for the past few weeks. Profit-booking set in after the sharp rise seen in recent past,” said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
Only realty counter escaped profit-booking.
BHEL at 1.95 per cent was the biggest Sensex loser for the second day. Brokers said capital goods and engineering companies may be carrying orders that may not take off and would have to be eventually struck down — this led selling pressure on those counters.
State-run power producer NTPC also lost 1.95 per cent.
Telecom major Bharti Airtel suffered a hit of 1.74 per cent, while Tata Motors closed 1.50 per cent lower. Gail India, Wipro, TCS, Sun Pharma and Tata Power lost over 1 per cent each.