Sensex falls from 7-month high on profit selling; loses 283 pts

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Sensex falls 2 Sens83 pts, closes at 18, 145

Mumbai: The BSE benchmark index Sensex on Wednesday fell from seven-month high levels losing 283 points on profit-booking mainly in realty, banking and oil and gas stocks.
    
The 30-share barometer, which had gained 275 points in last two trading sessions to touch a seven-month high, fell by 283.36 points, or 1.54 percent to 18,145.25 points.
    
Similarly, the broad-based National Stock Exchange index Nifty fell by 101.80 points, or 1.82 percent to 5,505.35.
    
Selling pressure gathered momentum in bluechip led by Reliance Industries and banking stocks, which had gained significantly in last few sessions.
    
The off-loading by investors was mainly due to current month settlement in the derivatives segment on Thursday.
    
Market major Reliance Industries fell by 1.02 percent to Rs 833.20 and state-run lender State Bank of India fell by 7.91 percent to Rs 2,257.80. ICICI Bank fell by 3.42 percent to Rs 957.15.
    
The realty sector index dropped the most by losing 6.77 percent to 2,023.10 followed by consumer durable index by 4.93 percent to 6,527.68. The metal index lost 4.29 percent to 12,115.08 and banking index by 3.82 percent to 12,348.87.

(Agencies)

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