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Profit booking subdues equities, Sensex falls over 300 points (Second Lead)

Mumbai, Nov 7 (IANS) A massive bout of profit bookings in healthcare, consumer durables and banking stocks subdued the key Indian equity indices during the mid-afternoon trade session on Tuesday, with the BSE Sensex shedding over 300 points.

Heavy selling pressure in index heavyweights like Lupin, Cipla, Sun Pharma, Tata Steel and State Bank of India, among others, pulled the benchmarks lower to trade with substantial losses, market observers said.

However, the S&P BSE IT and Teck (media, entertainment and technology) indices traded with gains.

The slide in the markets came after the barometer 30-scrip Sensitive Index (Sensex) of the BSE touched its new record intra-day high of 33,865.95 points.

At 2.12 p.m., the BSE Sensex traded lower by 335.14 points or 0.99 per cent at 33,396.05 points.

The wider Nifty50 of the National Stock Exchange declined by 95.55 points or 0.91 per cent to trade at 10,356.25 points.

The BSE market breadth was bearish — 1,928 declines and 741 advances.

On Monday, the benchmark indices closed on a flat note. The Nifty50 was down 0.70 points, or 0.01 per cent, to close at 10,451.80 points, while the Sensex of the BSE closed trade at 33,731.19 points — up 45.63 points or 0.14 per cent.

Post Source: Ians feed

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