Profit booking erased early gains of the stock market barometer Sensex, which despite a 35 points fall held on to the 15K level for the second straight day.
MUMBAI: Profit booking erased early gains of the stock market barometer Sensex, which despite a 35 points fall held on to the 15K level for the second straight day on Tuesday.
The 30-share index moved in a range of 15,114.95 and 14,966.40, closed 35.85 points down at 15,009.88 - indicating stability at this level that was first reached on Friday.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) touched a new intra-trade record high of 4,434.45 but settled lower at 4,406.05 from previous close of 4,419.40.
Investors attributed the change in the market behaviour to narrowly mixed trading in Asian markets and a slowdown in FII activity during the day.
Investors are expected to remain cautious with scrip specific interest in the next few days unless the market saw any major trigger in the earnings season, market players said.
Auto shares, particularly of car makers, however, shined on the back of a 16.36 per cent car sales growth in June. Car leader Maruti was up 2.38 per cent at Rs 813, while Tata Motors was up 4 per cent at Rs 744.55. IT stocks also registered handsome gains on fresh buying support.
Banking, capital goods and consumer durables sectors witnessed fairly heavy selling pressure, which could be gauged by substantial fall in the respective indices on the BSE.
The Bankex dropped by 75.63 points or 0.92 per cent, the BSE CD index by 56.93 points or 1.36 per cent and the Capital Goods by 141.65 points or 1.10 per cent.
The market breadth turned negative. Of the total 2,710 traded shares, 1,467 counters registered losses while 1,170 others closed with gains.
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