Sensex on a roller-coaster, declines 38 points

Market moved in a thin band today as the Sensex stuttered into the red after a positive opening, with profit booking in healthcare, energy, FMCG and IT casting its shadow amid mixed Asian cues. 

Caution was the predominant mood ahead of the key Bank of England monetary policy meeting and domestic WPI inflation later in the day. Buying interest was seen in consumer durable, telecom, financial and industrial sectors.

The 30-share index resumed higher before quoting at 27,777.12 at 1136 hours, showing a loss of 38.06 points, or 0.14 per cent from its last close.

The NSE 50-share Nifty also traded marginally lower by 11.35 points, or 0.13 per cent, at 8,508.15. The stocks that lost included ONGC 2.05 per cent, M&M 1.67 per cent and Sun Pharma 1.15 per cent. Notable gainers were Tata Motors 1.38 per cent, GAIL 1.36 per cent, PowerGrid 1.36 per cent and Maruti 1.34 per cent.

Foreign portfolio investors (FPIs) remained net buyers, purchasing shares worth Rs 290.53 crore yesterday, as per provisional data of the stock exchanges. Overseas, Asian markets were trading mixed ahead of Bank of England’s interest rate decision later in the day.

In US, stocks ended with meagre gains yesterday, but enough to extend their run into record territory and advance for a fourth session in a row.