1. Profit booking drags Sensex 224 points down at 27,836

Profit booking drags Sensex 224 points down at 27,836

Profit booking dragged benchmark indices BSE Sensex and NSE Nifty lower on Thursday.

By: | New Delhi | Published: August 25, 2016 4:47 PM
bse sensex nse nifty technical calls bank of baroda Profit booking dragged benchmark indices BSE Sensex and NSE Nifty lower on Thursday.(Photo: Reuters)

Profit booking dragged benchmark indices BSE Sensex and NSE Nifty lower on Thursday. The 30-share index closed 224.03 points down at 27835.91, while Nifty 50 index settled 58.10 points lower at 8,592.20. However, markets remained choppy on accont of F&O expiry today. Among the 51-components in the Nifty index, BHEL, BPCL, GAIL, ITC and HCL Tech gained 3.22 per cent, 2.38 per cent, 2.09 per cent, 1.10 per cent and 0.97 per cent. On the other hand, Wipro, Adani Ports, Idea Cellular, ZEEL and Tech Mahindra slipped by 3.15 per cent, 2.89 per cent, 2.69 per cent, 2.17 per cent and 2.10 per cent, respectively.

Barring the FMCG (up 0.31 per cent) and Oil & Gas index (up 0.29 per cent) on the BSE, rest all other sectoral indices ended the day in red. The BSE Telecom index, Metal index and TECk index slipped 1.82 per cent, 1.43 per cent and 1.36 per cent, respectively.

Vinod Nair, head of research, Geojit BNP Paribas Financial Services said, “The market was volatile and slid on the expiry day as investor started booking profits before Yellen’s speech. FIIs were on the selling mode which could have added fears to the current consolidation phase. Further direction to the market will depend upon the outcome of the FED’s view on the interest rate trajectory.”

Other Asian peers ended on mixed note on Thursday with Shanghai Composite and Nikkei closed lower by 0.57 per cent and 0.25 per cent. On the other hand, Hang Seng settled marginally higher by 0.03 per cent at 22826.87. Overall, market sentiments remained cautious ahead of the US Fed’s annual symposium in Jackson Hole, Wyoming, that starts later in the day. Federal Reserve Chair Janet Yellen will speak on Friday at the symposium and investors will keep a close eye on her remarks for clues about the outlook for US interest rates.

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