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Key indices edge down on profit booking in financials, FMCG stocks

Investors in wait n watch mode on sluggish global mkts; Despite the passage of the long-awaited $1-trn Infrastructure Bill, the gains in the US market were capped as investors cautiously awaited the US inflation data

Sensex forms long bullish candle

Sensex forms long bullish candle

Volatile Session

- BSE Sensex ended 112.16 pts lower at 60,433.45

- NSE Nifty fell by 24.30 pts to 18,044.25

- 16 of 30-share Sensex in the red

- After positive opening, session traded lower

- Selling pressure in pvt banking stocks

Mumbai: Equity benchmark BSE Sensex declined by 112 points on Tuesday due to profit booking in index-heavyweights HDFC twins, Kotak Bank and Bajaj Finance despite a positive trend in global markets.

After a volatile trading session, the 30-share index ended 112.16 points or 0.19 per cent lower at 60,433.45 with 16 of its constituents ending in the red. The broader Nifty of the National Stock Exchange fell by 24.30 points or 0.13 per cent to 18,044.25 as private banks and FMCG stocks declined.

HDFC Bank was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by HDFC, Bajaj Finance, NTPC, Maruti, Kotak Bank and PowerGrid.

On the other hand, gains in M&M, SBI, Reliance Industries and ICICI Bank helped restrict losses.

"After a positive opening, the domestic market traded lower as private banking stocks were under pressure following dull global markets. Despite the passage of the long-awaited infrastructure bill, the gains in the US market were capped as investors cautiously awaited the US inflation data," said Vinod Nair, head (research) at Geojit Financial Services.

Deepak Jasani, head (retail research), HDFC Securities, adds: "On a day when the volumes on the NSE were a little below recent average, capital goods, auto and oil & gas indices gained the most while metals, banks and FMCG indices fell the most. Boosted by a $1 trillion US Infrastructure Bill, global stock markets remained close to their all-time highs on Tuesday, but investors were reluctant to commit further to the rally before getting a clearer picture of the surge in US inflation."

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