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Profit-booking pulls Sensex down 63 points; realty power stocks trip

Sensex ,blue-chips, shed, market cap, nifty

Mumbai: The Sensex and Nifty slipped into the negative zone due to profit-booking by funds and retail investors ahead of US non-farm payrolls report on Friday and June-quarter corporate results starting next week.

At 2.10 p.m., the 30-share BSE index Sensex was up down 63.45 points or 0.22 per cent at 28,157.53 and the 50-share NSE index Nifty was down 33.65 points or 0.38 per cent at 8,710.30.

Among BSE sectoral indices, realty index fell the most by 0.81 per cent, power 0.77 per cent, banking 0.67 per cent and healthcare 0.62 per cent. On the other hand, oil & gas index was the star performer and was up 2.94 per cent, PSU 0.37 per cent and metal 0.27 per cent.

Top five Sensex gainers were GAIL (+3.93%), Reliance (+2.25%), HUL (+1.29%), Maruti (+0.55%) and ONGC (+0.47%), while the major losers were M&M (-1.99%), NTPC (-1.73%), ICICI Bank (-1.72%), Axis Bank (-1.62%) and ITC (-1.5%).

US services sector

US services sector activity hit an 11-month high in September, an encouraging sign for economic growth that may increase the prospect of a Federal Reserve rate hike this year.

October payrolls data out on Friday is expected to give a better idea about the Fed's likely stance.

“Markets have taken cognizance of the fact that there are a lot of events to look up to; taking stock of the situation is what we are seeing now,” said Anand James, chief market strategist at Geojit BNP Paribas Financial Services.

“It looks like the focus will now be on companies' performance and other macro cues.”

Global markets

Asian shares firmed on Thursday, encouraged by stronger US economic data and a rise in oil prices, while growing prospects of a U.S. rate hike hit gold and the boosted the dollar to one-month highs versus the yen.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent while Japan's Nikkei gained 0.9 per cent.

Major US stock indexes gained on Wednesday, boosted by financial shares amid encouraging economic data and by the energy sector as oil prices surged to June highs.

A report by IFA Global said: "Asian stock markets are trading on a positive note, with Hang Seng index trading higher by 94 point and Nikkei index is trading higher by 96 points following recovery in global equities. US stock markets closed higher, the Dow Jones Industrial Average closed higher by 112 points and Nasdaq index closed higher by 26 points. US equities ended higher rose after ISM services PMI for September rose compared to the previous month. European stock markets closed on a negative note, with FTSE closing lower by 41 points and CAC closing lower by 13 points, European indices ended lower after ISM services PMI for euro zone fell in September compared to the previous month."

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