Sensex snaps 2-day rally on profit-booking

The benchmark BSE Sensex dipped 19 points to close at 35,443.67 today after two straight sessions of robust gains due to profit-booking in power, metal, FMCG and banking stocks.

Overseas, European stocks followed Asian peers lower after a mixed close on Wall Street overnight amid uncertainty over global trade relations ahead of a key G7 meeting.

The 30-share Sensex opened lower and stayed in the negative terrain for the major part of the session, hitting a low of 35,260. It staged a mild recovery towards the end to touch a high of 35,484.94, before finally finishing at 35,443.67, down by 19.41 points, or 0.05 per cent.

The index had gained 559.87 points in the past two sessions after the RBI hiked the policy rate on inflation concerns but maintained its neutral stance and growth outlook.

The 50-share NSE Nifty settled 0.70 points, or 0.01 per cent, lower at 10,767.65. During the session, it moved between 10,709.05 and 10,779.45.

Both the key indices finished with gains for the third week in a row. The BSE Sensex recorded a rise of 216.41 points, or 0.61 per cent, while the NSE Nifty advanced 71.45 points, or 0.67 per cent, this week.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 525.40 crore yesterday, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,197.89 crore, as per provisional data.