Mumbai, Sept 5: The BSE Sensex broke its 3-session winning streak and fell 108 points to 16,713 on profit booking and weakness in overseas markets as disappointing jobs data in the US triggered concerns about global economic recovery.
The US economy created no jobs in August, dampening sentiment globally and pulling down Asian markets. Besides, US authorities decided to take action against dozen big banks for their role in triggering the 2008 global financial crisis, raising investor concerns.
Back home, brokers said, investors have been worried over RBI's high interest rate regime to tame rising inflation. As a result of these factors, investors booked profits after three sessions of gains and last week's favourite and top heavyweight in the Sensex, Reliance Industries Ltd (Ltd), fell 2.05 per cent. Over the past few sessions, it had gained nearly 12 per cent.
Country's second largest software services exporter and second top heavyweight, Infosys, also fell 2.23 per cent on fears of likely slowdown in US and Europe. The two markets account for about 85 per cent of the revenues for IT firms. Overall, refinery and IT counters suffered the most, while consumer durables, auto and some of the realty stocks managed to attract buying support.
The Bombay Stock Exchange 30-share index, Sensex, opened lower and moved erratically between 16,760.07 and 16,561.46 before settling at 16,713.33, down 108.13 points or 0.64 per cent. Sensex had zoomed about 973 points or 6.14 per cent in the past three sessions.
Similarly, the broader NSE 50-issue Nifty declined 22.80 points or 0.45 per cent to 5,017.20. PTI
