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Sensex slips at 253 points, Nifty settles at 7,460

Domestic equity ended in red on account of profit-booking by investors

Policy Pulse
Publish Date: Mar 15 2016 4:12PM | Updated Date: Mar 16 2016 10:39AM

Sensex slips at 253 points, Nifty settles at 7,460

 Domestic equity indices BSE Sensex and NSE Nifty ended in red on Tuesday on account of profit-booking by investors, even as retail inflation fell to a three-month low in February. Investors maintained a cautious approach ahead of the two-day meeting of the US Federal Reserve’s Federal Open Market Committee that begins on Tuesday.

 
Sensex closed 253.11 points, or 1.02 per cent, down at 24,551.17, while Nifty 50 index settled 78.15 points, or 1.04 per cent, down at 7,460.60.
 
In the 50-share index, State Bank of India (SBI), Bank of Baroda, Punjab National Bank, Bosch and Tata Steel gained between 1.10 per cent and 1.83 per cent. On the other hand, Lupin, HDFC, ZEEL, Dr Reddy’s Labs and ITC slid between 2.53 per cent and 7.72 per cent.
 
In scrip specific development, Lupin shares plunged 8 per cent intraday on Tuesday after USFDA gave 9 observations relating to inadequacy and adherence to operating norms for its manufacturing plant in Goa.
 
Procter & Gamble Hygiene & Health Care closed 1 per cent down after the company announced that it has stopped sale and manufacturing of its popular brand Vicks Action 500 Extra.
 
Hectic buying activity was witnessed in sugar stocks on the back of rising sugar prices in the international markets. Balrampur Chini and Dhampur Sugar Mills closed 3.51 per cent and 12.37 per cent up at Rs 98.80 and Rs 83.55.