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Rediff.com  » Business » Sensex logs 1st drop in 5 days, BSE tech glitch mars trading

Sensex logs 1st drop in 5 days, BSE tech glitch mars trading

Last updated on: July 03, 2014 16:41 IST

ReutersThe benchmark Sensex on Thursday retreated from record high levels and logged its first drop in five days, ending 17.46 points lower after trading on the BSE was disrupted for about three hours due to network outage.

Profit-taking in recent outperformers like realty, oil and gas and power sector stocks was seen in volatile trade.

The BSE 30-share barometer resumed at 25,875.75.

However, the exchange faced "network-related issues" and at 9.42 AM the market was closed. The issue was resolved by 12.15 PM and subsequently equity market was re-opened from 12.45 PM, the BSE said.

Intra-day, the Sensex hit a new historic high of 25,999.08, surpassing previous peak (25,864.53) hit yesterday.

However, it fell back sharply to a low of 25,793.70 before concluding at 25,823.75, recording a fall of 17.46 points, or 0.07 per cent. In the previous four sessions, the

Sensex had rallied over 778 points.

The 50-issue Nifty of the NSE declined 10.35 points, or 0.13 per cent, to end at 7,714.80. Intra-day, it scaled a new life time high of 7,754.65. In previous four days, it had gained 232 points.

"Benchmark indices slipped particularly in the later half of the session on heavy profit-booking in recent outperformers after normal trading restored", said Manoj Choraria, a Delhi-based stock broker.

Weakness in heavyweights like RIL, ONGC, Hero MotoCorp, Bajaj Auto, Maruti Suzuki, SBI, ICICI Bank, Infosys, Tata Power, NTPC, Hindalco and HUL weighed on the Sensex. Out of 30-share Sensex, 19 ended lower and 11 finished higher.

Sectorally, BSE realty index suffered the most by losing 1.47 per cent, followed by oil and gas index 1.19 per cent, power index 0.86 per cent, metal index 0.55 per cent and banking index 0.28 per cent.

Bucking the trend, healthcare index ended 1.12 per cent higher, auto Index rose 0.80 per cent and consumer durables index rose 0.59 per cent.

Indrani Mazumdar in Mumbai
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