Sensex falls below 30,000-mark on profit booking

Benchmark Sensex failed to maintain the 30,000-level during the late morning session and was down by 29 points to 29,889.40 due to fresh selling in telecom and power counters amid strong foreign capital outflows.

However, shares of consumer durables and realty firmed up on good buying enquiries.

The Sensex resumed higher at 30,021.49 and moved up further to 30,069.24 on initial strong buying. However, it fell to 29,854.87 before quoting at 29,889.40 at 1100 hrs, showing a loss of 28.92 points or 0.10%.

The NSE 50-share Nifty dipped by 5.60 points or 0.06% to quote below the 9,300-mark at 9,298.45 at 1100 hrs. Foreign funds sold net shares worth Rs 1,150.45 crore last Friday, as per provisional figures issued by stock exchanges.

Major losers were Reliance 1.54%, Tata Motors 1.22%, Bharti Airtel 1.16%, Power Grid 1.01% and Sun Pharma 0.95%.

Overseas, Asian stocks edged higher after resumption of trading at major stock exchanges after a public holiday on Monday.

US stocks closed slightly higher yesterday, shaking off comments from President Donald Trump about breaking up the big banks.