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Sensex declines 93 points on profit-booking

Monday, 7 January 2013 - 10:43am IST Updated: Monday, 7 January 2013 - 4:38pm IST | Place: Mumbai | Agency: PTI
Ending the four-day rally, the Sensex closed 92.66 points down to 19,691.42 led by stocks of capital goods and realty, while a rise in auto and metal stocks capped the losses.

The BSE benchmark Sensex on Monday fell from two-year high by 93 points on emergence of profit-booking in recent star performers amid a weak global trend.

Ending the four-day rally, the Sensex closed 92.66 points down, or 0.47%, to 19,691.42 led by stocks of capital goods and realty, while a rise in auto and metal stocks capped the losses.

The Index had gained 358 points in the last four trading sessions.

The wide-based National Stock Exchange index Nifty lost 27.75 points, or 0.46%, to 5,988.40.

Brokers said the market remained under pressure as cautious investors indulged in profit-booking from recent star performers, while energy stocks rose on expectations of hike fuel prices.

They said a weakening trend in the Asian region and lower opening in Europe led investors to reduce their positions before any technical correction.

Market participants adopted a wait-and-watch policy before the beginning of the earning season, with second most heavy Infosys coming out with earning results on January 11, they added.

In 30-BSE index components, 19 stocks decline with most heavy Reliance Industries lost 0.65% to Rs 855, Larsen and Toubro by 2.35% to Rs1,589.45 and ITC by 1.13% to Rs279.20.

On the other hand, falling trend was cushioned as Infosys gained 1.12% to Rs2,374.70 on expectations of better quarter earnings this week. Maruti Suzuki surged by 2.59% to Rs1,584 after CLSA upgraded the stock. Oil and Natural Gas Corp also rose by 1.04% to Rs287.70.

The capital goods sector index suffered the most by 1.47% to 10,932.88 followed by FMCG index by 1.05% to 5,822.33. Consumer durables, realty, bank and power sectors were also fell while metal, healthcare, auto, oil and gas and IT sectors gained.


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