Sensex snaps 5-day rally , ends 108 points lower at 21,826….


Sensex snaps 5-day rally, ends 108 points lower at 21,826. Tata Steel slumps 5.6 per cent to be the biggest loser among Nifty stocks.

Realty major Unitech has sold almost 10 acres of land in Bangalore and Mysore for about Rs. 100-130 crore as part of its strategy to repay debt.

Anil Manghnani, director of Modern Shares & Stock Brokers, describes today’s weakness as some cooling off after the 5-day rally. However, he says that profit-taking would be shallow as the underlying momentum remains strong.

Markets extend losses: Sensex down 152 points at21,781. Nifty falls 40 points to 6,497. The BSE metal index is down nearly 3 per cent on fall in global iron ore prices. Tata Steel is down 4.8 per cent, Hindalco falls 4 per cent while Sesa Sterlite declines 2.8 per cent.

Markets at day’s low on profit-taking: Sensex down 122 points at 21,812. Nifty off 29 points at 6,507. At its day’s low, the Nifty fell to 6499.

Traders say that market is seeing a profit-taking after a 5-day rally but the selling pressure has not been huge so far.

Markets remain lower on profit-taking: Sensex down 103 points at 21,831, Nifty off 25 points at 6,512.30.

February trade data: Trade gap at $8.13 billion vs $14.12 billion a year earlier; exports at $25.69 billion, down 3.7% YoY; imports at $33.82 billion, down 17.1 per cent YoY .

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