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Sensex falls 314 pts; ITC, Vedanta down
Sensex falls 314 pts; ITC, Vedanta down. The market fell over 1 per cent on Monday as accute selling pressure in metals, FMCG and capital goods sectors, besides profit booking. The investor sentiment was dipped following diappointing March quarter results of ITC and SBI.
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Mumbai: The market fell over 1 per cent on Monday as accute selling pressure in metals, FMCG and capital goods sectors, besides profit booking. The investor sentiment was dipped following diappointing March quarter results of ITC and SBI.
Sensex fell 314 points to close at 27,643 and Nifty ended 88 points down at 8370. However, the broader markets outperformed benchmarks marginally with midcap and smallcap indices ended flat with negative bias. At the individual count, the FMCG major ITC slipped over 3 per cent as the company had reported lower-than-expected financial results for the March quarter.
On the other hand, the metals major Vedanta had ended the day with 3.6 per cent lower. The other scrips reported loss inculude HDFC, Tata Steel, Gail, SBI and Coal India. While ONGC, Airtel, Wipro and M&M closed the trade on firm note.
On the sectoral front, all the sectors repored in red, except oil indices. The metal, FMCG, and capital goods indices dipped about 1 per cent each, while in the metal place, Vedanta, Tata steel and Hindalco lost between 1 per cent to 3 per cent each.
While ONGC gained over 2 per cent, the other oil market companeis like HPCL ane BPCL gained about 1 per cent each. The experts think that the markets are expected to be rangebound fot the next couble of months.
