Markets snap five-day rally

Mumbai: Snapping its five-day rally, the Bombay Stock Exchange benchmark Sensex shed over 165 points by close on profit selling in metal, capital goods and IT counters.

The 30-share BSE barometer, which commenced the day higher by 188 points, pared early gains to settle at 14,777 levels. It moved between 15,130 - 14,608 levels in intra-day deals.

The wide-based National Stock Exchange index Nifty also fell by 43.25 points at 4,433.

Metal index suffered the most by falling 374.27 points at 12,696.25 as metal prices in the London Metal Exchange (LME) dipped on firming dollar. It was followed by capital goods sector index by 220.61 points at 12,119.16.

Bank counters also skidded on concerns over more hike in some key interest rates by Reserve Bank in its monetary policy on 29 July.

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