Volatile Sensex Slips as Profit Booking Creeps In

Markets slipped into the negative territory in late noon trades amid high volatility on the BSE and NSE. Earlier in the day, the Indian benchmark indices touched all-time high levels for a sixth trading session.

 

Profit booking was visible across the board. Capital goods, banking, auto, metal and power stocks were among the worst hit in trades so far. The broader markets also came off the intra-day highs and were trading flat. The BSE mid-cap and small-cap indices were in the red.

 

From the Nifty basket, Bharti Airtel was the top loser. The stock fell 4.4 per cent to Rs 376. Cairn India, Sesa Sterlite, Tata Steel, Tata Motors, Larsen & Toubro, BHEL, Cipla, Kotak Mahindra Bank and HUL were trading weaker by 1-2.5 per cent each. 

 

The advance decline ratio on the BSE also turned negative as 1,721 stocks were declining while 987 were advancing.

 

At 1:55 p.m., the S&P BSE Sensex was down 44 points or 0.15 per cent at 29,526 and the Nifty was trading weaker by 7 points at 8,903.