Sensex sheds 115 points, Nifty down 28 points; capital goods, power stocks trip
Mumbai: The Sensex and Nifty were trading down by over 0.4 per cent as funds and retail investors indulged in profit-booking due to weak Asian cues amid fears over the escalating crisis in Iraq.
Besides, rise in WPI inflation to 6.01 per cent in May from 5.2 per cent in the previous month dampened the investor sentiment.
At 12.50 p.m. the 30-share BSE index Sensex was trading at 25,113.01, down 115.16 points and the 50-share NSE index Nifty was trading at 7,504.35, down 37.75 points.
Among BSE sectoral indices, capital goods and power indices fell the most by 1.93 per cent and 1.61 per cent, respectively, followed by banking 1.01 per cent and oil & gas 0.82 per cent.
On the other hand, IT and TECk indices remained investors' favourite and were up 1.65 per cent and 1.22 per cent, respectively, followed by healthcare 0.29 per cent and FMCG 0.23 per cent.
Among 30-share Sensex constituents, GAIL, TCS, Infosys, Sun Pharma and Wipro were the major gainers, while the major losers were Axis Bank, L&T, M&M, RIL and Tata Steel.
Asian shares were down as an escalating violence in Iraq pushed oil prices higher. Army troops had killed more than 270 rebels yesterday in Iraq, OPEC’s second-biggest crude producer, as the prospect of civil war intensifies with Sunni Muslim insurgents controlling territory north of Baghdad.
US stocks had ended down last week as lower estimates for global growth and escalating violence across Iraq halted a three-week rally that had sent benchmark indexes to all-time highs.