Sensex Ends 160 Points Lower amid Volatile Trade

ECONOMY ANALYSIS

• Sensex ends 160 points lower amid volatile trade; realty, utilities drag
• Health Min accepts panel's recos to ban loose cigarettes
• Bharti up 2% as it sells 4800 towers in Nigeria to cut debt
• Ricoh India up 11% on bagging big order from government
• Mara Raja jumps 6%; BoAML upgrades it, sees 75% upside

MARKET ANALYSIS

• The S&P BSE Sensex snapped three-day winning streak and slipped as much as 282 points in trade on Tuesday, led by losses in Tata SteelBSE - 2.56 %, JSW SteelBSE -2.63 %, NMDC and Sesa Sterlite. The 30-share index witnessed the biggest single-day drop in nearly 6 weeks.
• Tracking the momentum, the 50-share Nifty index also came under bit of pressure and closed the day below its crucial psychological level of 8500. The index hit a record high of 8535.35 earlier in trade today.
• The S&P BSE Sensex has rallied over 33 per cent so far in the year 2014 and some sort of profit booking cannot be ruled out after three straight days of gains, say analysts but the broader trend remains on the upside.
• The S&P BSE Sensex finally closed at 28,338.05, down 161.49 points or 0.57 per cent. It touched a high of 28,541.22 and a low of 28,217.50 in trade today.
• The 50-share index ended at 8,463.10, down 67.05 points or 0.79 per cent. It hit a record high of 8,535.35 and a low of 8,429.45 in trade today.