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Sensex Begins 2017 on Negative Note, Down 132 Points

Shares of Unitech, DLF Ltd, HDIL, Oberoi Realty, Sobha Ltd, Godrej Properties, Indiabulls Real Estate and Omaxe Ltd trading in positive zone with gains of up to 5 per cent.

Press Trust Of India

Updated:January 2, 2017, 10:11 AM IST
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Sensex Begins 2017 on Negative Note, Down 132 Points
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Mumbai: Stock markets opened on a subdued note on the first trading day of 2017, with the benchmark BSE Sensex falling over 132 points in early trade on profit-booking after recent gains.

The 30-share index, which had gained 415.78 points in the previous two sessions, fell 132.37 points, or 0.50 per cent, to 26,494.09 in early trade today.

Stocks of FMCG, teck, IT and auto were major losers, dragging the key indices down.

Bucking the trend were stocks of realty companies, which were in demand after Prime Minister Narendra Modi on December 31 announced that loans of up to Rs 9 lakh taken in the new year under the new scheme of Pradhan Mantri Awas Yojana will receive interest subvention of 4 per cent and loan of up to Rs 12 lakh will get a 3 per cent interest waiver.

Shares of Unitech, DLF Ltd, HDIL, Oberoi Realty, Sobha Ltd, Godrej Properties, Indiabulls Real Estate and Omaxe Ltd trading in positive zone with gains of up to 5 per cent.

The broad-based NSE Nifty was down 44.80 points, or 0.54 per cent, to 8,141.

Brokers said that profit-booking in stocks that logged gains recently, and absence of cues from other global markets which are closed today, left an impact on the markets.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Nakshab Khan
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