Financials News

Sensex falls 73 points on profit booking in pharma, banking stocks

Sensex falls 73 points on profit booking in pharma, banking stocks

Mumbai: The benchmark BSE Sensex on Friday fell by 73 points as investors booked profits in pharma, banking and auto stocks after disappointing financial results.

The 30-share index closed at 32,309.88, down by 73.42 points, or 0.23 per cent. After opening lower, the BSE barometer touched a low of 32,104.66 as investors booked profits in recent gainers. However, emergence of buying in the last hour of trade helped the index recoup most of initial losses.

The broader NSE Nifty fell by 6.05 points, or 0.06 per cent, to close at 10,014.50 as 29 index constituents declined. The 50-share index had dropped below the 10,000 mark to hit a day’s low of 9,944.50 as pharma stocks such as Dr Reddy’s, Lupin and Sun Pharma fell up to 6 per cent intra day.

Among others, ICICI Bank fell by 3.6 per cent after its quarterly results failed to enthuse investors. Hero MotoCorp, Axis Bank and Hindustan Unilever also fell. On a weekly basis, the Sensex climbed 280.99 points, or 0.87 Per cent, while the Nifty gained 99.25 points, or 1 per cent.

PTI