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Posted On : 20 Mar, 2017  Source : PTI  Place : Mumbai 
Sensex snaps 2-day winning spree, dn 130 pts on profit-booking
The S&P BSE benchmark senxex sanpped its 2-day winning spree, tumbling by 130 points to close at 29,518.74 due to profit-booking from operators at the current level on the back of lower global advices in spite of good foreign capital inflows.

The NSE 50-share Nifty dropped by 33.20 points or 0.36 per cent to close to 9,126.85.

The sensex resumed higher at 29,653.54 and hovered in a range of 29,699.48 and 29,482.40 before ending at 29,518.74, showing a loss of 130.25 points of 0.44 per cnet.

The sensex had gained by 250.88 points or 0.85 per cent in previous two days.

The foreign portfolio investors (FPIs) bought shares worth a net Rs 1,532.90 crores last Friday, as per provisional data released by the stock exchanges, While Domestic institutional investors (DIIs) sold shares worth a net Rs 711.50 crore, as per provisional data.

Meanwhile, the Union Cabinet chaired by the Prime Minister Narendra Modi has approved the four Goods and Services Tax (GST) related bills today.

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Mr. Anupam Singhi, COO of William O Neil India said," The benchmark indices came under selling pressure in today s session amidst profit booking. After gaining about 2.5 pct in the last week, frontline indices started the week with substantial losses.

Today, market spotlight was on the announcement of Idea Cellular and Vodafone India merger. Putting an end to weeks of speculation, Idea Cellular announced its merger with Britain's Vodafone Group. Both Idea Cellular and Vodafone India are India s leading telecom service providers. 

In overseas market, most Asian stocks declined with markets in Japan shut for a holiday and investors watching oilfield-related shares after a bankruptcy filing by Singapore's Ezra Holdings at the weekend. Key indices in China , Hong Kong and Taiwan moved up by 0.04 pct to 0.79 pct while indices Singapore and South Korea moved down by 0.12 pct to 0.35 pct.

European markets were trading lower in their afternoon trade today as investors digested the potential impact that trade barriers could have on global growth. Key indices in France, Germany and UK eased by 0.20 pct to 0.31 pct.ZCZC 

In broader markets, The BSE Mid-Cap index was provisionally up 0.17 per cent. The BSE Small-Cap index was provisionally up 0.30 per cent. Both these indices outperformed the Sensex.

Of the 30-share Sensex pack, 15 scrips ended lower while 15 gained.

Major lossers were Axis Bank 2.41 per cent, ICICI Bank 1.99 per cent, Infy 1.87 per cent, TCS 1.82 per cent, Wipro 1.59 per cent, Reliance 1.56 per cent, Tata Steel 1.06 per cent, L&T 0.80 per cent and Power grid 0.51 per cent.

However, NTPC rose by 0.87 per cent followed by Bharti Artl 0.76 per cent, Coal India 0.76 per cent, HDFC Bank 0.63 per cent, Lupin 0.62 per cent and HDFC 0.53 per cent.

Among BSE sectoral and industry indices, other losers were IT 1.36 pct, teck 1.23 per cent, Telecom 1.11 per cent, energy 0.75 per cent, oil&gas 0.52 per cent, bankex 0.42 per cent and capital goods 0.36 per cent, while consumer durables rose by 1.03 per cent followed by healthcare 0.44 per cent, realty 0.25 per cent and FMCG 0.21 per cent.

The market breadth remained negative as 1,444 shares ended lower, 1,353 closed higher while 226 ruled steady.

The total turnover on BSE amounted to Rs 56,820.64 crore, higher than the turnover of Rs 4,594.86 crore registered during the previous trading session.