Nifty slips below 6,700-mark on profit booking; down 42 points

Apr 04 2014, 19:46 IST
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Other top losers were HCL Tech, Mcdowel, Asian Paint, GAIL, Tata Motors, Cairn and Tata Power. While PNB, Tata Steel, ACC, IndusindBk witnessed gains. (Reuters) Other top losers were HCL Tech, Mcdowel, Asian Paint, GAIL, Tata Motors, Cairn and Tata Power. While PNB, Tata Steel, ACC, IndusindBk witnessed gains. (Reuters)
SummaryMarket fell for the second day on profit-booking amid market's recent overbought positions and investors' wariness over slumping private sector...

Market fell for the second day on profit-booking amid market's recent overbought positions and investors' wariness over slumping private sector activity, as broad-based selling led benchmark to slip below the important 6,700-mark, losing 41.75 points at the National Stock Exchange (NSE) today.

Investors sentiment dampened as China, India and Russia's private sector activity fell for the fourth consecutive month in March following output contraction, according to HSBC Emerging Markets Index (EMI) survey.

Caution also prevailed with the nation set to begin five-week General election exercise from next week on April 7.

IT, Energy, FMCG, Auto, Infra and banking counters incurred hectic profit-booking, while Realty segment and shares of Mid-cap and Small-cap companies gained.

Meanwhile, FIIs bought shares worth a net Rs 717.39 crore yesterday as per the provisional stock exchange data.

The market opened lower on weak Asian cues, and trimmed losses in morning trade. It traded negative to end in red.

State owned NTPC dropped by 2.2 per cent, BHEL by 2.05 per cent and state-run energy major Power Grid fell by 1.93 per cent. However, realty major DLF rallied by 2.5 per cent and Pharma heavyweight Cipla 1.94 per cent.

The Nifty hovered between a high of 6,741.85 and a low of 6,685.15, before ending at 6,694.35 points, down 41.75 points, or 0.62 per cent, over its last close.

Other top losers were HCL Tech, Mcdowel, Asian Paint, GAIL, Tata Motors, Cairn and Tata Power. While PNB, Tata Steel, ACC, IndusindBk witnessed gains.

Turnover in the cash segment dropped to Rs 14,302.63 crore from Rs 15,852.65 crore yesterday. A total of 10,055.98 lakh shares changed hands in 64,31,224 trades, while market capitalisation stood at Rs 73,00,538 crore.

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