Sensex, Nifty take a pause; Matrimony.com, Manpasand Beverage, Jet Airways stocks bleed
The BSE Sensex slipped 51 points to 40,215 levels while the 50-stock Nifty lost 19 points to 12,069 levels. The bank Nifty index lost 51 points to 31,602 levels.
On account of negative domestic institutional investors and neutral global sentiments, the Indian indices took a pause after its huge rally on yesterday trade. The BSE Sensex slipped 51 points to 40,215 levels while the 50-stock Nifty lost 19 points to 12,069 levels. The bank Nifty index lost 51 points to 31,602 levels. Manpasand Beverage, Jet Airways, Centrum Capital and Matrimony.com stocks were the major losers in the early morning trade session.
Speaking on the market outlook Prakash Pandey, Head of Research, Fairwealth Securities said, "Market is bullish and the current impact is due to some profit booking by the domestic investors. But, the market would soon gain momentum as the FIIs are positive. Tech and IT stock would be one of the major gainers but due to FII investment, it's banking stocks that would lead the bull run on Dalal Street."
IT stocks led the bear grip at Dalal Street as the BSE IT index lost 0.9 per cent in the early morning intraday trade. IT major Matrimony.com stocks nosedived around 7 per cent, Tata Consultancy Services aka TCS went down more than 1.5 per cent, Subex stocks slipped around 1.25 per cent, MosChip Technologies counter dipped around 1.9 per cent, HCL Technologies share price went down 1.7 per cent, Hexaware Technologies share price was down 1.2 per cent while Infosys share price went down around 1 per cent.
Tech stocks also witnessed heavy profit booking in the early morning trade as the BSE Tech index went down around 0.8 per cent from its Monday close. Tech majors MindTree, MphasiS, NIIT, Reliance Communications aka RCom, Just Dial and Sun TV Network stocks all were in the red zone.
Among Asian markets Japanese Nikkei 225 index dip 0.01 per cent, South Korean Kospi went 0.08 per cent up, Hang Seng slipped around 0.49 per cent while the Shanghai market crashed 0.84 per cent.