Sensex declines 78 points on profit taking in IT, banking shares, weak Asian cues
The Hindu
The 30-share BSE Sensex fell 78.22 points or 0.12% to settle at 65,945.47 with 14 of its components closing lower and 16 advancing
Benchmark Sensex closed lower by 78 points in a listless trade on September 26 due to select profit-taking in IT and banking shares in line with weak Asian markets and continuous foreign fund outflows.
The 30-share BSE Sensex fell 78.22 points or 0.12% to settle at 65,945.47 with 14 of its components closing lower and 16 advancing. During the day, it declined 158.06 points or 0.23% to a low of 65,865.63.
The broader Nifty dipped 9.85 points or 0.05% to end at 19,664.70.
Among Sensex shares, Tech Mahindra, Infosys, Asian Paints, ICICI Bank, Kotak Mahindra Bank, Titan, IndusInd Bank and Bajaj Finserv were the major laggards.
Nestle, Tata Steel, Mahindra & Mahindra, Bajaj Finance, HDFC Bank and Tata Consultancy Services were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended lower.
European markets were trading on a mixed note. The U.S. markets ended in positive territory on Monday.
India’s manufacturing sector underperforms compared to China and South Korea, partly due to public sector wages that raise costs and reduce competitiveness.
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Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
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