Mumbai: Snapping three sessions of upsurge, the BSE benchmark Sensex on Monday fell 108 points on profit booking by investors amid a weak global trend. (Agencies)
The Bombay Stock Exchange 30-share index, Sesnex, which had gained 972 points in last three sessions, fell 108.13 points, or 0.64 per cent to 16,713.33.
The decline was led by refinery, IT and healthcare sectors.
Selling pressure gathered momentum as investors booked profits after the stock market surged 6.1 per cent in last three sessions. On weekly basis, it fell for five weeks in a row -- its longest run of losses since October 2008.
A weakening trend in the Asian region and lower opening in Europe after week job growth in the US, fuelled concerns that the global economy is faltering.
The National Stock Exchange index Nifty fell by 22.80 points, or 0.45 per cent to 5,017.20, after touching a low of 4,964.45.
Reliance Industries and Infosys, with over 20 per cent weight in the Sensex, closed with hefty losses. RIL dropped by 2.05 per cent to Rs 788.90 and Infosys by 2.23 per cent to Rs 2,263.85.
IT companies, which get more than 50 per cent of their revenues from the US and European markets, remained weak following turmoil in global financial markets, while banking stocks declined on fears of more hike in interest rate to tame inflation.
Meanwhile, food inflation re-entered double digit at 10.05 per cent for the week ended August 20, worrying investors that the Reserve Bank will raise interest rates again to tame rising prices, even as the growth slows down.
Mumbai: Snapping three sessions of upsurge, the BSE benchmark Sensex on Monday fell 108 points on profit booking by investors amid a weak global trend.