Sensex down 117 points to slip below 29,000-level

Mumbai: Extending losses for the fourth straight day, the benchmark BSE Sensex on January 4 fell over 117 points to slip below the 29,000-mark after nearly two weeks as funds and retail investors indulged in profit-booking amid mixed global cues.

After surging to 29,133.62 points at the outset on emergence of buying, the Sensex fell and touched the day's low of 28,824.68 before ending 117.03 points, or 0.40 per cent, lower at 28,883.11. Major losers that pulled down the Sensex and Nifty were Axis bank, BHEL, SBI, L&T, Tata Motors, TCS, Maruti, Hindustan Unilver, RIL, and Bharti Airtel.

The 30-share index has lost 798.66 points in the last four sessions. Similarly, the National Stock Exchange index Nifty slipped by 32.85 points, or 0.38 per cent, to close at 8,723.70. It hovered in a range of 8,792.85 and 8,704.40. Sectorwise, the BSE Banking index fell by 1.23 per cent as RBI kept interest rates unchanged.

In other sectoral indices, BSE capital goods index fell 1.88 per cent, followed by power (1.14 per cent), consumer durable (1.12 per cent), auto (1.09 per cent), FMCG (0.51 per cent) and IT (0.20 per cent). In the 30-share Sensex constituents, 16 ended lower and 14 closed with gains, helping the benchmark indices trim losses.

Brokers said sustained selling by participants in bluechip stocks and a lower opening in European markets and mixed trend in other Asian markets led to the fall. Meanwhile, Foreign Portfolio Investors sold shares worth a net Rs 264.35 crore on January 3.