Sensex slips 57 pts; ends in red for second week

TIL Desk/Business/Mumbai/Benchmark Sensex frittered away a good start to finish 57 points lower today, with investors choosing to book profits amid mixed global cues. The 30-share index had soared about 162 points to hit a high of 29,584.34 in early trade, but surrendered gains in mid-session selling, which dragged it down to 29,259.42. The barometer finally ended at 29,365.30, down 57.09 points or 0.19 per cent.

The broader NSE Nifty closed lower by 17 points, or 0.19 per cent, at 9,119.40 after shuttling between 9,183.65 and 9,088.75. On a weekly basis, the BSE Sensex fell 96.15 points, or 0.32 per cent, and the Nifty 31.40 points, or 0.34 per cent, sliding for the second straight week. Foreign portfolio investors (FPIs) sold shares worth a net Rs 168.84 crore yesterday, as per provisional data.

“The quarterly results till date have painted a mixed picture while concerns over upcoming French election is adding risk to the market. A hawkish tone of RBI in its latest minutes has also added pressure on the downside,” said Vinod Nair, Head of Research, Geojit Financial Services.