Sensex down 115 points on profit booking, weak global markets

In line with weak global markets, the BSE Sensex fell about 115 points to 18,494 as investors booked profits after two-day gains with banking, realty and auto stocks suffering the most.

Asian markets closed bearish after weak economic data from the US and decline in Wall Street stocks. European markets also displayed feeble trend amid debt crisis in some EU nations.

There was selling in heavyweights like ICICI Bank, Tata Motors, HDFC Bank, HDFC, M&M, TCS, Sterlite Ind, Tata Steel, Infosys and REL Infra.

However, smart rise in RIL, HUL, ITC and Bajaj Auto cushioned the fall. Besides, there was some relief from food inflation, which fell to 8.06% for week ended May 21 from 8.55% in the previous week.

The Bombay Stock Exchange 30-share bellwether index resumed lower and remained in the negative terrain throughout the day to close at 18,494.18, down 114.63 points or 0.62%. In last two days, it had risen by about 377 points or 2.07%.

The broad-based NSE 50-issue Nifty also fell 41.65 points or 0.74% to 5,550.35.

"A global sell off in equities spooked Indian markets. US jobs report and debt crisis in the euro zone will be important near-term catalysts for risky asset classes," said Amar Ambani, Head of Research at IIFL.

Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan closed lower between 0.39% and 1.69%. In Europe, CAC was down 1.16%, DAX-1.14% and FTSE by 0.93%.