By IANS
New Delhi : Indian equities lost ground Thursday after opening on a strong note for the second successive day as investors sought to book profits on the gains made a day earlier following an impressive rally.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened higher by 326.91 points at 17,920.98 points, against the previous day’s close at 17,594.07 and rose higher to 18,096.31 points within minutes.
The index, however, shed ground and was ruling at 17,243.74 points around 1:15 p.m., to register a decline of 350.33 points, or 1.99 percent, according to data available with the exchange.
All sector-specific indices were ruling in the red, except those for banking and fast moving consumer goods, against a positive opening at the start of trading, where the index for realty scrips led the pack with a gain of 3.70 percent.
Wednesday had seen the 30-share barometer index of the Mumbai bourse end with a gain of 5.17 percent or 864.13 points over the previous day’s close at 16,729.94 points, bringing cheer to investors after the steep falls the previous two days.
The positive turnaround was on account of the US Federal Reserve delivering a surprise interest rate cut of 75 basis points early Tuesday, which shored up market confidence across the globe, including India.