BSE Sensex Falls More Than 200 Points On Profit-Taking
Mumbai: The BSE Sensex fell 1.2 per cent on Wednesday, on profit-taking after rising to its highest since November 2010 earlier in the week.
Asian stocks also fell, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.6 per cent on fears of tighter policy in China.
Shares of Wipro fell 4.5 per cent after the company's July-September revenue in dollar terms grew 2.7 per cent sequentially, lagging other major IT services exporters, dealers say.
Other IT stocks also dropped on profit-taking: Tata Consultancy Services (TCS) was down 1.88 per cent, while Infosys was lower 1.2 per cent and HCL Technologies fell 1.3 per cent.
The NSE index for IT shares is up 45.4 per cent in 2013 compared with the Nifty's returns of 4.6 per cent, as of Tuesday's close.
Among blue-chip shares, Tata Motors Ltd fell 2.76 per cent after marking its record high last week.
In late morning trade, the BSE Sensex failed to maintain initial gains and was quoted lower by 68 points to 20,796.70 due to fresh selling pressure mainly in IT, Tech, Auto, Realty and Capital Goods counters despite firm global trend.
The BSE Sensex resumed higher at 20,875.31 and firmed up further to 20,922.32 on initial strong buying on the back of higher global cues coupled with persistent foreign capital inflows.
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