Markets end 5-day winning run on profit-taking in IT stocks

Stock markets snapped their five-day winning run on Tuesday with the benchmark Sensex declining by 199 points due to profit-taking in IT and oil shares and weak global trends.

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The 30-share BSE Sensex dropped by 199.17 points or 0.27% to settle at 73,128.77. As many as 20 Sensex shares declined while 10 advanced.

The key index opened lower but staged a recovery in late-morning deals to touch its all-time intra-day high of 73,427.59. But the barometer failed to hold onto gains in the second half due to profit-taking in the broader market and retreated by 367.65 points or 0.50% to a low of 72,960.29.

The Nifty touched its alltime intra-day high of 22,124.15 before closing lower by 65.15 points or 0.29% at 22,032.30. As many as 33 Nifty shares closed in the red while 17 advanced.