Sensex snaps 2-day winning spree

Profit-booking from operators on the back of lower global cues coupled with capital outflows pulled down the BSE benchmark sensex by 110 points to finish at 18,682.31, snapping its 2-day winning spree. Power, Metal, Capital Goods, Auto and banking sectors were the major losers of the day. Interest rates sensitive stocks from auto, banking and realty suffered as data released early this week showed that the headline inflation rose to the highest level in 10 months in September 2012, limiting the central bank’s ability to cut rates to help support the slowing economy. The Reserve Bank of India (RBI) will announce Second Quarter Review of Monetary Policy -2012-13 on Oct.30. The BSE benchmark sensex resumed lower at 18,768.00 and hovered in a range of 18,769.59 and 18,611.76 before ending the day 18,682.31, disclosing a net loss of 109.62 points or 0.58 per cent. It had gained by 214.23 points or 1.15 per cent in the last two days. The NSE 50-share Nifty also declined by 34.45 points or 0.60 per cent to 5,684.25. Provisional data released by the stock exchanges showed that foreign institutional investors (FIIs) were net sellers yesterday with the tune of Rs 68.87 crs, as per provisional data from the stock exchanges.