Sensex snaps seven-day winning run, falls 288 pts; Nifty50 ends at 17,656

Profit-booking comes to play, investors dump FMCG, pvt banking stocks

The benchmark Sensex’s seven-day winning streak was snapped on Tuesday as investors reassessed risks such as hawkish central bank policies and prospects of an earnings downgrade. Declines in consumer goods stocks, index heavyweight Reliance Industries (RIL), and banking stocks dragged the markets.

The S&P BSE Sensex fell 288 points, or 0.5 per cent, to finish at 59,544, while the National Stock Exchange Nifty50 fell 74 points, or 0.42 per cent, to close at 17,656.

In the preceding seven trading sessions, the Sensex had risen nearly 2,600 points, or 4.54 per cent — its longest winning streak in nearly a year.