Sensex, Nifty snap 6-day winning streak on profit booking in energy, auto shares
India Today
BSE Sensex fell 306.01 points or 0.55 per cent to settle at 55,766.22 and the NSE Nifty dipped 88.45 points or 0.53 per cent.
Benchmark indices Sensex and Nifty snapped their six-day winning run to close lower by over a half per cent after profit booking in oil and gas, automobile and telecom stocks on Monday.
The 30-share BSE Sensex fell 306.01 points or 0.55 per cent to settle at 55,766.22 dragged down by index heavyweight Reliance Industries.
During the day, the barometer declined 535.15 points or 0.95 per cent to 55,537.08.
The broader NSE Nifty dipped 88.45 points or 0.53 per cent to 16,631 as 31 of its constituents closed in the red.
"Bulls finally lost steam after surging ahead for the last six consecutive sessions as investors booked profit in automobile, oil & gas, and telecom stocks, even though gains in metals and select capital goods stocks capped losses. Investors traded with caution ahead of the Federal Reserve meet on Wednesday," Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, said.
Among the Sensex constituents, Mahindra & Mahindra fell the most by 3.80 per cent.
Reliance Industries declined 3.31 per cent after the company's June quarter earnings failed to cheer investors.
