Sensex slips on profit booking

Indian market ended in the negative terrain on Tuesday on account of weak global cues. The Metals, IT and the Telecom stocks witnessed profit booking. Even the Mid-Cap and the Small-Cap stocks saw some offloading.

Selling was not only seen in India but also across the globe as euphoria over China's proposed currency reform faded. The yuan weakened after yesterday’s surge on China’s plan to expand the currency’s trading range against the dollar.

The BSE 30-share Sensex slipped 127 points to close at 17,750 and NSE Nifty was down 36 points and ended at 5,317.

Among the BSE sectoral indices, BSE Metal index was the top loser, down 2% followed by BSE IT index, it was down 1.2% and BSE Teck index down 1%. The BSE Mid-Cap index and the BSE Small-Cap index ended almost unchanged.

Outside the frontline indices, the big losers in the broader market were India Cement, Jai Corp, MMTC and Aditya Birla Nuvo. On the other hand, gainers included Biocon, MRPL, GLenmark and Bosch.