BSE Sensex dropped by 52 points to end at 28,926.36.
Equities slipped for the first time in three days on Wednesday with the BSE Sensex dropping by 52 points to 28,926.36, hit by profit-booking in recent winners amid mixed global cues on caution ahead of European Central Bank's meet. State Bank of India was the biggest gainer on the index, rising 2.74% to Rs 266.55, after the state-run lender said it raised Rs 2,100 crore by allotting Basel III compliant perpetual bonds to Yes Bank.
Power equipment maker BHEL surged 15.50% to Rs 159.80 after it reported a 54.21% jump in net profit to Rs 77.77 crore for the June quarter. Shares of Vedanta Ltd ended steady, while Cairn India settled 1.23% lower at Rs 200.55, after shareholders of the mining conglomerate Vedanta Resources approved merger of the two group firms. Buoyancy in currency market, where the rupee strengthened against the US dollar, capped the losses in broader markets. "Market oscillated between gains and losses and ended with minor loss due to profit-booking ahead of the ECB meet
tomorrow, which could provide clues on global liquidity," said Vinod Nair, Head of Research at Geojit BNP Paribas Financial.
The 30-share Sensex, which went past the 29,000-mark at the outset to touch a high of 29,067.84 succumbed to profit- booking later and slipped to 28,911.31 before ending down by 51.66 points or 0.18% at 28,926.36. The index had risen 554.54 points in the last two sessions on bullish overseas cues after weak US jobs data dimmed hopes of an interest-rate hike by the Federal Reserve in near-term.
NSE Nifty after shuttling between 8,968.70 and 8,913.35 settled 25.05 points or 0.28% lower at 8,917.95.
The broader markets, however, outperformed the Sensex with the small-cap index ending 0.62% higher, while mid-cap gained 0.11%. Overseas, Asian stocks ended mixed with indices like China and Taiwan ending higher by up to 0.84%, while indices in Hong Kong, Japan, Singapore and South Korea eased between 0.10% and 0.41%. European markets also traded mixed as key indices in France and Germany moved up by 0.22% to 0.31%, however, the UK's FTSE was lower by 0.01%.
In the local market, 18 scrips out of the 30-share Sensex pack ended lower. Asian Paints was the top loser with a deficit of 1.92% followed by HDFC Ltd (1.87 pc), Axis Bank (1.72 pc), NTPC (1.50 pc), TCS (1.49 pc), GAIL (1.47 pc) Power Grid (1.42 pc), HDFC Bank (0.87 pc) and Bajaj Auto (0.69 pc). While, ONGC rose by 2.51% followed by ICICI Bank 2.09%, Tata Steel 1.06%, Infy 0.95% and Cipla 0.75%.
Among BSE sectoral indies, consumer durables fell 0.96 per cent followed by utilities 0.90%, oil&gas 0.36 per cent, finance 0.30% and teck 0.13%, while capital goods rose by 1.21%, metal 1.06%, realty 0.96% and power 0.66%. The market breadth remained positive as 1,404 shares ended higher, 1,356 closed lower while 157 ruled steady. The total turnover on BSE amounted to Rs 4,178.26 crore, higher than turnover of Rs 3,804.43 crore registered yesterday.
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