Nifty slips on profit booking in heavyweights

Mumbai, Feb 26 (IANS): Nifty remained sideways throughout the session on Monday with negative bias and closed with a loss of 91 points at 22,122 levels.

Profit booking was witnessed in some of the index heavyweights at higher levels, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Majority of the sectors ended in the red. However, buying was seen in oil & gas, auto, and realty, he said.

"Globally, investors would take cues from macro data releases lined up during the week. The US New Home Sales Data for January would be an important event to track on Monday. Overall, we expect the market to consolidate at higher zones while following global trends," Khemka said.

Nifty closed on a negative note at 22,122, down by 90.65 points, while the Sensex closed at 72,790, down by 352 points. Nifty Energy was the sector which outperformed on Monday, up by 0.50 per cent, said Vaibhav Vidwani, Research Analyst at Bonanza Portfolio.

The top Nifty losers were Asian Paints, Hindalco Industries, Apollo Hospitals, Divis Labs, and Tata Steel, while the top gainers were Power Grid Corp., L&T, Adani Enterprises, Adani Ports, and Tata Consumer.



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