Sensex melts 438 pts due to Profit Booking

Sensex melts 438 pts due to Profit BookingThe BSE-benchmarked Sensex booked heavy loss on Monday, ahead of profit booking across the indices.

The BSE Sensex closed lower by 437.63 points or 2.90% at 14,665.92 while NSE Nifty settled the day at 4,429.90, down 3.42% or 157 points. The BSE Sensex touched intraday high of 15,200.82 and intraday low of 14,604.23.

Further, the BSE Mid Caps and Small Caps indices also ended the day in red with loss of 294.93 and 374.77 points at 5,114.85 and 6,083.88 respectively.

The benchmark index opened on Monday on the higher side but soon turned volatile ahead profit booking. The investors were looking nervous regarding their portfolio value throughout the day.

In addition, the lower index futures along with weak opening of the European markets fueled to the negative sentiment among the investors, which dragged down the indices further.

On sectoral front, investors off-loaded position across almost all the sectors led by Realty, Metal, Bankex and CD index while the IT index witnessed some buying support to close with gains of more than 1.5%.

The losers from the BSE Sensex pack were JP Associates (10.40%) along with DLF (10.34%), Tata Steel (10.21%), Reliance Comm (8.68%), Reliance Infra (8.55%), SBIN
(6.76%), Ranbaxy Labs (6.45%), Tata Motors (6.25%) and Hindalco Inds (6.14%).

The gainers from the BSE Sensex pack were Wipro Ltd (3.36%) followed by Infosys (2.52%), TCS (2.29%) and HUL (0.14%).