Ending the six day rally, the benchmark stock indices on Thursday closed in the negative territory due to selling pressure and profit booking.
The BSE Sensex closed with a loss of 190 points at 26845.81. Similarly, the NSE Nifty index also closed with a loss of 48.05 points at 8129.35.
“Nifty has moved close to 250 points over the last six days. Market participants usually book profits when such a sharp move occurs in a short span of time, leading to a snap in the rally,” said Nikhil Kamath, Director, Trading & Risk, Zerodha, a stock brokerage firm.
Rupee closes lower
The rupee lost 11 paise against the dollar as FIIs sold some stocks to book profit ahead of the earning season. The Indian currency closed at 65.06 against the dollar compared to the overnight close of 64.95.
