Profit booking drags Sensex 105 pts; Axis tanks 6%, Reliance up

Profit booking drags Sensex 105 pts; Axis tanks 6%, Reliance up

Friday, September 23, 2016
Indian equities extended sell-off in late trade on profit booking after a consolidation Friday, dragged by Axis Bank, Infosys and ICICI Bank. Weak global cues also weighed on sentiment. Benchmark indices had rallied 1 percent in previous session after Federal Reserve kept rates unchanged.

The 30-share BSE Sensex was down 104.91 points at 28668.22 and the 50-share NSE Nifty fell 35.90 points to 8831.55 while the broader markets outperformed benchmarks with the BSE Midcap rising 0.3 percent.

Infosys, ICICI Bank, Lupin, Tata Motors, SBI and Tata Steel were down 1-2.6 percent whereas Reliance Industries, HDFC, TCS, HDFC Bank and Dr Reddy's Labs gained 0.4-1.4 percent.

The market breadth was in favour of declines as about 1494 shares slipped against 1168 advancing shares on the Bombay Stock Exchange.

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