The market capitalisation of all listed companies on BSE declined by Rs 4.46 lakh crore to Rs 461.22 lakh crore.
Among the Sensex stocks, Reliance Industries, SBI, ICICI Bank, L&T, Infosys, ITC, HCL Tech, and HDFC Bank were the primary contributors to the index’s decline.
Sector-wise, Nifty PSU Bank and Oil & Gas indices dropped by over 2%, while the Auto, Bank, Media, Metal, and Consumer Durables sectors declined by over 1%. Domestically-focused small-caps fell 0.9%, and mid-caps slid 1.3%.
Ashoka Buildcon also surged 6% after its subsidiary Viva Highways monetise Pune land for Rs 453 crore.
According to analysts investors today resorted to profit booking after another rally in the last two weeks for the Sensex, Nifty that led it to record highs on Monday.
“I was expecting substantial profit booking in small and mid caps over the last 2-3 months, but it hasn’t happened. Many companies still trade at high valuations without corresponding profit growth,” said G Chokkalingam, founder and head of research at Equinomics Research.
Posted By: Riya News Portal
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