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Sensex fails to hold gains; down 116 points in afternoon trade

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The benchmark BSE Sensex failed to hold its initial gains and fell over 116 points at 1400 hours on Tuesday after the country’s exports dipped 3.67 per cent in February amid profit-booking.

After rising to 22,018.52 in morning trade, the Sensex fell back to trade lower by 116.06 points, or 0.53 per cent, to 21,818.77 at 1400 hours.

Selling in metals, FMCG, capital goods, healthcare and oil & gas sector stcoks dragged down the key indices from their record highs.

Meanwhile, the country’s exports declined 3.67 per cent to $ 25.68 billion in February. Imports fell 17.09 per cent to $ 33.81 billion, resulting in a trade deficit of $ 8.13 billion.

Similarly, the National Stock Exchange index Nifty declined by 27.05 pints, or 0.41 per cent, to 6,510.20 after hitting an all—time high of 6,562.85 in early trade.

The 30-share Sensex had gained 988 points in the previous five sessions.

He is a Software Engineer from Moodbidri currently living in Kuwait. He likes to travel and post interesting things about technology. He is the designer of Kannadigaworld.com. You may follow him on FB at fb.com/alanpaladka

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