Profit booking drags Sensex 435 points down; HDFC Bank, RIL dip

Mumbai: The Indian equities markets benchmark Sensex fell 435 points on Tuesday dragged by profit booking in HDFC and HDFC Bank that had surged by nearly 10 percent on Monday after the announcement of a merger deal.

The 30 stock S&P BSE Sensex closed 435.24 points or 0.72 percent down at 60,176.50 points against its previous day's close at 60,611.74 points. Earlier, Sensex started the day on a positive note at 60,786.07 points. However, it slipped into red soon after the opening of the trade due to profit booking in the stocks that had led the rally on Monday. The Sensex slipped to a low of 60,067.18 points in the intra-day.

The Sensex had gained 1335.05 points or 2.25 percent on Monday after HDFC and HDFC Bank announced a surprise merger deal.
The broader Nifty 50 of the National Stock Exchange closed 96 points or 0.53 percent down at 17,957.40 points against its previous day's close at 18,053.40 points.

The Nifty had gained 382.95 points or 2.17 percent on Monday.
Housing Development Finance Corporation (HDFC) and HDFC Bank which had led the stock market's rally on Monday, declined on profit booking. HDFC Bank slipped 2.98 percent to Rs 1607.15. HDFC fell 2.12 percent to Rs 2622. Both these stocks had gained nearly 10 percent on Monday.
The index heavyweight Reliance Industries Limited (RIL) closed 1.41 percent to Rs 2625.40. Bajaj Finserv slumped 2.14 percent to Rs 16818.85. Kotak Bank slipped 2.05 percent to Rs 1798.
There was strong buying support for power stocks. NTPC surged 3.40 percent to Rs 149.15. Power Grid Corporation rose 2.48 percent to Rs 233.05. ITC, Titan, Tata Consultancy Services, Nestle India, and Hindustan Unilever were among the major Sensex gainers. (ANI)