BSE Sensex snaps 4-day winning streak, Larsen & Toubro drops; FIIs sell

BSE Sensex drops after investors took opportunity to book profits in recent outperformers.

By: Reuters | Mumbai | Published:May 21, 2014 4:44 pm

BSE Sensex fell on Wednesday, snapping a four-session winning streak as blue-chips including Larsen & Toubro Ltd fell, a day after foreign investors turned net sellers for the first time in about a month.

Investors took the opportunity to book profits in recent outperformers, especially in domestic-oriented sectors that led a powerful rally in anticipation of a victory by the Bharatiya Janata Party and its prime ministerial candidate Narendra Modi.

Larsen & Toubro provisionally fell 2.1 percent while State Bank of India ended over 2 percent lower.

The benchmark BSE Sensex index provisionally closed 0.32 percent lower, while the broader NSE Nifty index lost 0.31 percent, retreating from record closing highs on Tuesday.