Sensex, Nifty fall from life-time highs; 1st drop in nine days

Jignesh Chaudhary, Head of Research, Veracity Broking Services said: “Indices lost their way and closed weak as the day progressed. Profit booking was seen.” Jayant Manglik, President-retail distribution, Religare Securities said, weak global cues and continued unrest in the Middle East and Ukraine have dampened the sentiments of market participants. Also, lower than expected results from IT major Wipro added to that negativity, he added.

Asian stocks ended higher in a choppy trade. Indices in China, Hong Kong, Japan and South Korea rose by 0.36 per cent to 1.13 per cent while indices in Singapore and Taiwan eased by 0.11 per cent to 0.93 per cent.

European stocks were trading lower on disappointing financial results from some companies as indices in France, Germany and the UK declined by 0.01 per cent to 0.65 per cent. US stocks fell on Thursday on concerns that trouble at a European bank might spread, said global traders.

In the Sensex pack, 18 dropped while 12 rose. Tata Motors was the top loser and Sun Pharma the best gainer. Reflecting heavy selling in two-tier stocks by retail investors, two counters declined for every one that rose on the BSE where over 3,000 shares were traded. Total turnover rose to Rs 3,577.35 crore from Rs 3,109.87 crore on Thursday.