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Indian equities decline on profit booking

FXStreet (Mumbai) - Indian equity markets ended lower today as investors booked profits after the benchmark indices rose sharply to record high levels earlier this week.

The Sensex retreated 0.17% to 27868.63, compared to the previous session’s close of 27915.88. Among stocks, HDFC Bank fell most after the stock was removed from the MSCI India Index. Other losers include stocks like Hero MotoCorp Ltd, and Mahindra & Mahindra Ltd. HDFC Bank fell 1.5, while State Bank of India slid 1.4%.

Meanwhile, Motherson Sumi Systems Ltd. and Zee Entertainment Enterprises Ltd. advanced 0.5% and 4.8%, respectively, after MSCI said the two companies will be added to he MSCI India Index from the close of trading on Nov. 25.

The Foreign inflows continue to remain strong in the Indian markets. FIIs bought a net USD 170.5 million of local shares on Nov. 5, taking this year’s inflow to USD 14.4 billion.

Sensex Technical levels

The index has an immediate support at 27,791, under which prices can fall to 27,745 levels. Meanwhile, the index has a strong resistance located at 28,000.

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