Sensex lackluster, sheds 50 points

Mumbai: Moderate selling in metal and PSU counters pulled the benchmark Sensex down by 50 points today in lackluster trade in tandem with global markets which took a breather after rallying for the past week. The chart showing the 52 week performance of Sensex is on the left.

The Bombay Stock Exchange's 30-share index settled at 17,052.54 points, down 50.06 points or 0.29 percent, as blue-chips Reliance Industries, SBI, Tata Steel, L&T and Tata Motors came under some selling pressure. The National Stock Exchange's 50-share key index Nifty settled at 5101.50 points with a 23-point fall.

Analysts said the bourses worldwide are taking a breather after a sharp rally in the past few days as investors are booking profit and cashing on the gains they reaped in the last trading sessions. Markets were cautious on the eve of share sale programme of another PSU NMDC which opens tomorrow. Shares of NMDC tanked over 6.23 percent today.

Tata Motors was another big casualty as it lost 3.29 percent amid reports that German truck maker Daimler would exit its holding in the company. Jaiprakash Associates at 3.57 percent was the biggest index loser.