Sensex slips below 11k to 10,867 pts

Mumbai, Aug 4: Bombay Stock Exchange (BSE) sensitive index (Sensex) today dipped to an unexpected low of 10,867 points after touching a high of 11,039 points on profit-booking by the investors, who once again took the opportunity to trade gain on margins.

The four-day positivity on the Sensex was broken after it dipped by 56 points under intense selling pressure in the second half of the last trading session.

The Sensex swung 229 points touching a high of 11,039.34 points and a low of 10,810.04. Experts believe this correction is only temporary and markets will soon stabilise at the 11,200 level.

The Sensex which was rock solid for the first half of the day tanked under selling pressure in the second half and was mostly influenced by the banking scrips, which were down by 1.50 per cent to 4,773.04 points and consumer durables sector which was down by 1.62 per cent to 2,726.94 points.

Other sectors to go down today were FMCG, which was down by 1.57 per cent to 1,857.33 points, oil and gas sector down by 1.64 per cent to Rs 4,998.90 and PSU down by 0.88 per cent to Rs 5,080.81.

Major gainers on the index today were Reliance Energy, which was up by 1.86 per cent to Rs 463.00, HDFC up by 1.55 per cent to Rs 1,245.25, Bajaj Auto up by 1.54 per cent to Rs 2,613.50, BHEL was up by 1.46 per cent to Rs 2,149.75, Dr Reddy's up by 1.36 per cent to Rs 1,427.10, Ranbaxy up by 1.24 per cent to Rs 396.80, Grasim Industries up by 1.02 per cent to Rs 2,138.05, TCS up by 0.69 per cent to Rs 950.00, Infosys up by 0.64 per cent to Rs 1,680.95 and Bharti Airtel up by 0.46 per cent to Rs 400.65.

Major losers on the index were SBI, which was down by 2.67 per cent to Rs 807.90, Cipla down by 2.17 per cent to Rs 227.85, Reliance Industries down by 2.10 per cent to 967.40, ITC down by 1.98 per cent to Rs 168.10, HLL down by 1.89 per cent to Rs 220.55, ICICI down by 1.52 per cent to Rs 547.30 and L&T down by 1.48 per cent to Rs 2,240.80.

The breadth in the broader market was in the favour of 1,375 declines as against 1,067 advances and 88 scrips remained unchanged.

The total scrips that were traded on the BSE aggregated to 2,530.

UNI

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