Sensex down 120 points on profit-booking; dips below 20,000-mark
The Sensex, which had gained 284 points in last three trading sessions, commenced the day higher at 20,156.86 before ending with a loss of 120.25 points, or 0.60%, at 19,981.57. Across-the-board selling resulted in all 13 BSE sectoral indices closing lower with losses between 0.47% and 1.98%.
Realty, consumer durables, FMCG, PSU and capital goods led the slide, said brokers. Fall in Hindustan Unilever (HUL), ITC, SBI, HDFC Bank, Tata Motors, TCS, GAIL India, L&T, Infosys, ICICI Bank, Bharti Airtel and Hindalco mainly weighed on the 30-share Sensex.
Dealers said profit-booking picked up as benchmark indices in the current calender year had so far gained close to 4% on economic reforms, continued capital inflows, strong corporate earnings and hopes of rate cut on January 29 by RBI. The broader 50-share S&P CNX Nifty of the NSE also fell back by 33.80 points, or 0.56%, to 6,048.50 after breaching the 6,100-mark for the first time in two years.
FMCG major Hindustan Unilever reported a 15.59% jump in net profit to R871.36 crore for the third quarter ended December 31, 2012. However, its shares slipped nearly 2.9%.
Trading sentiment was hit as global markets depicted a mixed trend as investors awaited cues from key US corporate earnings to be released later in the day.
“European indices were showing mixed trend... Domestic market breadth was
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