<p>The Sensex, which has gained 1,016 points over the past four trading sessions, fell by 99.79 points to 17,705.01 after touching an intra-day high of 17,813.11.<br /><br />The Sensex had rallied by 6.1 per cent last week as European leaders agreed to expand a bailout fund to stem the region's debt crisis and the Reserve Bank of India signalled the halt of a record cycle of interest rate hikes.<br /><br />In a similar fashion, the broad-based National Stock Exchange index Nifty lost 34.10 points today, closing at 5,326.60 after moving in a narrow range between 5,314.60 and 5,360.25.<br /><br />In the 30-share Sensex pack, 22 counters closed with losses, while the remaining registered gains, with the exception of Larsen and Toubro, which remained unchanged in limited deals.<br /><br />The oil and gas sector index suffered the most, losing 2.09 per cent to 8,987.52 as the most-weighted firm in the 30-share Sensex pack, Reliance Industries, fell by 2.26 per cent to Rs 877.75 and ONGC by 1.97 per cent to Rs 279.<br /><br />The metal sector index was the second-worst performer, losing 1.97 per cent to 11,904.10. Hindalco Industries was the biggest loser among the 30 Sensex companies, losing 4.11 per cent, while Sterlite Industries was a close second, plummeting by 4.10 per cent. Jindal Steel closed 2.87 per cent lower.<br /><br />The auto index was dragged down by 0.98 per cent to 9,477.19 over fears that a steep rise in interest rates will hamper sales. In addition, the poor second quarter results of leading car-maker Maruti Suzuki India dampened the sentiment.<br /><br />Maruti Suzuki had posted a 59 per cent decline in net profit for the second quarter after production was hit by labour unrest.<br /><br />In the auto segment, Tata Motors lost 3.76 per cent to Rs 198.45, while Bajaj Auto fell by 1.21 per cent to Rs 1,733.15. After plummeting by 6 per cent in early trade, shares of Maruti Suzuki recovered to close 0.21 per cent lower at Rs 1,125.65.<br /><br />Meanwhile, Asian stocks declined, with the MSCI Asia Pacific Index posting its biggest drop in a month as China vowed to maintain property lending curbs.<br /><br />European stocks opened lower as investors remained reluctant to buy equities before the euro zone leaders explain how they will fund their expanded bailout facility.<br /></p>
<p>The Sensex, which has gained 1,016 points over the past four trading sessions, fell by 99.79 points to 17,705.01 after touching an intra-day high of 17,813.11.<br /><br />The Sensex had rallied by 6.1 per cent last week as European leaders agreed to expand a bailout fund to stem the region's debt crisis and the Reserve Bank of India signalled the halt of a record cycle of interest rate hikes.<br /><br />In a similar fashion, the broad-based National Stock Exchange index Nifty lost 34.10 points today, closing at 5,326.60 after moving in a narrow range between 5,314.60 and 5,360.25.<br /><br />In the 30-share Sensex pack, 22 counters closed with losses, while the remaining registered gains, with the exception of Larsen and Toubro, which remained unchanged in limited deals.<br /><br />The oil and gas sector index suffered the most, losing 2.09 per cent to 8,987.52 as the most-weighted firm in the 30-share Sensex pack, Reliance Industries, fell by 2.26 per cent to Rs 877.75 and ONGC by 1.97 per cent to Rs 279.<br /><br />The metal sector index was the second-worst performer, losing 1.97 per cent to 11,904.10. Hindalco Industries was the biggest loser among the 30 Sensex companies, losing 4.11 per cent, while Sterlite Industries was a close second, plummeting by 4.10 per cent. Jindal Steel closed 2.87 per cent lower.<br /><br />The auto index was dragged down by 0.98 per cent to 9,477.19 over fears that a steep rise in interest rates will hamper sales. In addition, the poor second quarter results of leading car-maker Maruti Suzuki India dampened the sentiment.<br /><br />Maruti Suzuki had posted a 59 per cent decline in net profit for the second quarter after production was hit by labour unrest.<br /><br />In the auto segment, Tata Motors lost 3.76 per cent to Rs 198.45, while Bajaj Auto fell by 1.21 per cent to Rs 1,733.15. After plummeting by 6 per cent in early trade, shares of Maruti Suzuki recovered to close 0.21 per cent lower at Rs 1,125.65.<br /><br />Meanwhile, Asian stocks declined, with the MSCI Asia Pacific Index posting its biggest drop in a month as China vowed to maintain property lending curbs.<br /><br />European stocks opened lower as investors remained reluctant to buy equities before the euro zone leaders explain how they will fund their expanded bailout facility.<br /></p>