Post Session- Profit booking drags down Sensex 25/11/2014

Post Session- Profit booking drags down Sensex
25/11/2014 16:29
The key domestic benchmarks ended lower today as the Sensex retreated by over 160 points led by losses in realty and FMCG stocks amid profit booking by investors after Dalal Street hit record highs for two straight sessions. Moreover, a SEBI crackdown on participatory notes (P-Notes), a popular investment product used by foreign investors also weighed on sentiment as the capital market regulator said that it is changing the rules for offshore derivative instruments to bring them in line with new foreign investment norms. Further, caution remained ahead of Q2 GDP numbers due to be released later in the week which may show a slowdown in economic growth, and ahead of the expiry of November F&O contracts on Thursday.

Most Asian stocks closed higher as investors continued to cheer the surprise interest rate cut by Beijing which is expected to help stem a lingering slowdown in the world’s second biggest economy. China’s Shanghai Composite surged on hopes of another interest rate cut on the back of the one undertaken last week while Hang Seng ended lower and Japan’s Nikkei 225 advanced as the Bank of Japan pledged its commitment to achieving the 2 per cent inflation target.

The BSE SENSEX closed at 28,338.05, down by 161.49 points or by 0.57 per cent, and the NSE Nifty ended at 8,463.1, down by 67.05 points or by 0.79 per cent.