Sensex closes 62 points lower

The benchmark BSE Sensex today fell by 62 points on profit-booking, mainly in front-line stocks Bharti Airtel, Coal India, TCS, Infosys and Maruti, amid weak global cues.

After resuming lower at 18,644.54, the 30-share index closed lower 62.24 points, or 0.33% at 18,632.17.

The broader National Stock Exchange index Nifty also fell by 10.45 points, or 0.18%, to 5,663.45.

Brokers said selling pressure emerged as investors indulged in squaring up their positions created in recent rally ahead of the settlement in September month contract in the derivatives segment tomorrow.

They said the sentiment was also dampened by weak global stock markets after Federal Reserve said the third round of bond buying may fail to stimulate economic growth.

Of Sensex stocks, 19 stocks declined led by Infosys, TCS, Dr Reddy, Larsen and Toubro, Bharti Airtel, HDFC, Maruti Suzuki and Coal India declined.

Shares of Industrial Finance Corporation plummeted 5.76% to Rs30.25, after losing 19% at the outset after market regulator SEBI yesterday approved government raising its stake in the firm without triggering an open offer.

The metal sector index suffered the most by losing 1.17% to 10,439.32 on poor cues from the London Metal Exchange.

Bucking the general weak trend, stocks of FMCG, healthcare, realty, oil and gas and consumer durable sectors ended with gains.