Sensex slips nearly 34 pts on profit taking in oil, auto stocks

During the day, it fell 360.62 points or 0.57 per cent to 62,507.88.The broader NSE Nifty eked out marginal gains and ended 4.95 points or 0.03 per cent higher at 18,701.05.Among the Sensex pack, Reliance Industries, Tech Mahindra, UltraTech Cement, Dr Reddys, Axis Bank, Bharti Airtel, Bajaj Finserv and Mahindra Mahindra were the major laggards.Tata Steel, NTPC, State Bank of India, IndusInd Bank and Power Grid were among the winners.Market continued its profit-booking trend from the record high as they exercised prudence ahead of the RBI policy announcement on 7th December.

Benchmark BSE Sensex fell for the second straight session on Monday in a volatile trade due to profit taking in oil, IT and auto stocks ahead of the RBI policy announcement on December 7.

The 30-share BSE benchmark dipped 33.9 points or 0.05 per cent to settle at 62,834.60. During the day, it fell 360.62 points or 0.57 per cent to 62,507.88.

The broader NSE Nifty eked out marginal gains and ended 4.95 points or 0.03 per cent higher at 18,701.05.

Among the Sensex pack, Reliance Industries, Tech Mahindra, UltraTech Cement, Dr Reddy's, Axis Bank, Bharti Airtel, Bajaj Finserv and Mahindra & Mahindra were the major laggards.

Tata Steel, NTPC, State Bank of India, IndusInd Bank and Power Grid were among the winners.

''Market continued its profit-booking trend from the record high as they exercised prudence ahead of the RBI policy announcement on 7th December. Partially, it was also due to increase in crude prices due to OPEC decision not to cut output target, and ease in China's Covid policy,'' said Vinod Nair, Head of Research at Geojit Financial Services.

''Markets made a muted start to the week and ended almost unchanged. After the flat start, the Nifty index oscillated in a narrow range and finally settled at the 18,701 level,'' said Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

In the broader market, BSE smallcap gauge climbed 0.25 per cent and midcap index advanced 0.10 per cent.

Among sectoral indices, metal jumped 2.37 per cent, commodities realty (0.74 per cent), bankex (0.46 per cent) and financial services (0.35 per cent).

FMCG, IT, telecommunication, oil & gas and teck were the laggards.

Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong settled higher, while Seoul ended lower.

Equity exchanges in Europe were trading mostly lower in the afternoon trade. Wall Street had ended on a mixed note on Friday.

International oil benchmark Brent crude was trading 1.73 per cent higher at USD 87.05 per barrel.

Foreign Institutional Investors (FIIs) turned net seller on Monday as they sold shares worth Rs 1,139.07 crore, as per exchange data.