Sensex tanks 427 points; erases previous day’s gains

Mumbai, July 10 (UNI) Indian benchmark indices erased all gains of yesterday as the BSE Sensex tanked nearly 427 points on profit booking at higher levels to close the day at 79,924.77 and the National Stock Exchange (NSE) index Nifty fell 108.75 points to 24,324.45.

Registering an all-time high on Tuesday, the BSE Sensex opened on a strong note at 80,481.36, up 130 points. It was days high; later it tanked 916 points at 79,435.76 to touch day’s low, before closing at 79,924.77, down 426.87 points from its previous close.

The stocks that dragged the market were Auto by 1.65 per cent, Metal by 1.60 per cent, IT by 0.99 per cent, and BSE Commodities by 0.87 per cent.

The Foreign Institutional Investors (FIIs) were net buyers in last trading session to the tune of Rs 314 crore and the Domestic Institutional Investors (DIIs) also bought equities in the cash segment worth Rs 1,416 crore, according to data available.

The NSE registered days high and low at 24,461.05 and 24,141.80 points, respectively.

In the 30-share index, 9 advanced while 21 declined. The mid cap and small cap fell by 0.19 per cent and 0.69 per cent respectively.

The losers were M&M by 6.62 per cent to Rs 2732.10, Tata Steel by 2.21 per cent to Rs 168, TCS by 1.85 per cent to Rs 3917.90, HCL Technologies by 1.58 per cent to Rs 1506.65, and SBI by 1.27 per cent to Rs 850.

The gainers were Asian Paints by 3.10 per cent to Rs 2995.40, Powergrid by 1.53 per cent to Rs 346.10, NTPC by 1.22 per cent to Rs 381.60, and Adani Ports by 0.71 per cent to Rs 1488.45.

In the Asian Market, Strait Times were up by 0.98 per cent and Taiwan Weighted by 0.45 per cent while the Hang Seng fell by 0.30 per cent and Shanghai Composite by 0.68 per cent.

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