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Sensex declines 40 points on profit-booking

By Super

Mumbai, Mar 4 (PTI) The BSE benchmark Sensex today closed 40 points down on emergence of profit-booking by funds mainly in metal and realty sector stocks amid a weak global trend. The Sensex fell by 40.56 points, or 0.21 per cent, to close at 18,877.96. It touched the intra-day low of 18,760.41. The index had gained 57 points in the previous session.

The broad-based National Stock Exchange index Nifty lost 21.20 points, or 0.37 per cent, to close at 5,698.50. The metal and realty sector stocks suffered the most as economic growth faltered, raising fears of slowdown in demand for products, brokers said. A weakening trend in Asia and lower opening in Europe after China tightened mortgage rules to cool the property market, further influenced the market sentiment. In 30-BSE index components, 18 stocks declined and 11 settled with gains. Tata Power held unchanged at Rs 97.15.


Barring banking, all sectoral indices ended lower up to 2.54 per cent. Banking stocks led by State Bank of India and ICICI Bank remained higher on expectations the Reserve Bank of India policy meeting this month might cut interest rate to boost the economy. PTI

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