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Sensex ends at 18,938.46, down by 119.69 pts

Posted on Oct 05, 09:26PM | UNI

Snapping the upward trend of last four sessions,the benchmark Index of the Bombay Stock Exchange (BSE) today declined by 119.69 points to below 19K to 18,938.46 on profit booking by local operators.

The Nifty of National Stock Exchange (NSE) fell by 40.65 points to 5746.95.

With yesterday's 15-month-high of 19,058.15, the Sensex opened on a steady note. The index gained by 79.14 points at the day's high of 19,137.29, before closing at 18,938.46 points, sliding by 119.69 points against its last close.

The index dropped by 300.81 points at the day's low of 18,757.34.

The Nifty registered the day's high and low at 5815.35 and 4888.20 points respectively.

The market breadth was weak. Index heavyweight and cigarette maker ITC edged lower in volatile trade.

Key benchmark indices erased its previous gain as investors resorted to profit booking after recent strong rally in stock prices.

IT stocks fell across the board on a firm rupee.

The BSE Mid-Cap index declined by 0.84 pc and the BSE Small-Cap index fell by 0.95 pc. Both these indices underperformed the Sensex.

Among the sectoral indices, IT, Bankex and Healthcare were the top losers down by 1-1.6 per cent each while Consumer Durables, Auto and FMCG indices improved by 0.6 pc each.

HDFC was the top Sensex loser down by 4.89 pc at Rs 750.

Bank shares also witnessed profit taking after sharp gains recently. ICICI Bank, HDFC Bank and SBI ended down by 0.2-1.6 pc each.

Software shares were down on concerns that the sharp appreciation in the Indian rupee against the US dollar would hurt revenues.

The IT companies including TCS, Wipro and Infosys ended down by 0.9-2.4 pc each.

Gains in auto and FMCG stocks helped markets recover from their day lows. Tata Motors was up by 2.24 pc followed by Hind Unilever, M and M, ONGC and Reliance too restricted from further losses, brokers said.

Emkay Global Financial Services ended in 10 pc lower circuit at Rs 31.10 after the National Stock Exchange blamed brokerage firm for the erroneous trades amounting of over Rs 650 crore.

The market breadth was weak. On BSE, 1,780 shares fell and 1081 shares rose. A total of 135 shares were unchanged.

From the 30-share Sensex pack, 21 stocks fell and rest of them rose.

Asian stocks edged higher today. Key benchmark indices in Hong Kong, Indonesia, Singapore, South Korea, Japan and Taiwan rose between 0.11 pc to 0.93 pc.