Sensex trips on profit booking

Oct 04, 2010 |

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Oct. 4: The Sensex tripped badly after the scorching pace at which it ran up in the first half of trade on Monday hitting an intra-day 32-month high of 20,707.

It shed most of its gains, dipped into the red and finally closed in the green up 30.69 points at 20,475.73. Profit booking in weighted index stocks like Infosys, ONGC, SBI, L&T, ITC after the European markets opened in the red dragged the Sensex down.

European markets fell nearly one per cent on concerns that the turnaround of the global economy will be slow as the US reported a slowdown in manufacturing growth in September.

The US markets opened in the red and headed for a choppy session. The Sensex opened on a high as Asian markets hit a two year high as investments continued to flow into the emerging markets that are the flavour of the season. But the European stocks fall spoilt the party. The turnover on the National Stock Exchange and the Bombay Stock Exchange continued to be huge at Rs 1,35,056 crore with the F&O sector accounting for Rs 1,11,925 crore.

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