Sensex drops 186 points on profit-booking

Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.

Mumbai: Equity benchmark Sensex declined 186 points on Tuesday, tracking losses in ICICI Bank, Kotak Bank and Infosys as investors booked profits at higher levels.

The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66. Similarly, the broader NSE Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.

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Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.

On the other hand, PowerGrid, HUL, NTPC, Dr Reddy’s and Nestle India were among the gainers.

According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities extended losses as profit-booking in financials, auto and metals dragged benchmark indices down.

Weak cues from global markets also weighed on sentiments, he said.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses.

Stock exchanges in Europe were, however, trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.27 per cent lower at $73.94 per barrel.

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