Business

The BSE Sensex resumed higher at 28,520.76 and firmed up to 28,541.22.

The BSE 30-share barometer, after hitting the new peak in the opening trade, succumbed to profit-booking and selling by foreign funds at record levels.

Sesa Sterlite, Axis Bank, HDFC, SBI and ICICI Bank were top gainers while Gail, M&M, Coal India, Maruti and Bajaj Auto were among the laggards.

Last week, in a much-awaited reform, the government deregulated diesel prices that resulted in a price cut of Rs 3.37 a litre.

Far-forward contracts maturing in September, 2015 dipped to 427-429 paise from 442-444 paise.

A Rs 2.50 per litre cut in diesel prices is likely after results of Assembly polls in Maharashtra and Haryana are announced on Sunday.

The latest number was sharply lower than a Reuters poll forecast of 7.2 percent and August's revised 7.73 percent print.

About 1012 shares have advanced, 1903 shares declined, and 112 shares are unchanged.

The company's stock settled 4.70 per cent lower at Rs 3,650.20 on the BSE.

Sun Pharma, HDFC, Bajaj Auto, Maruti Suzuki and ITC were gainers. BHEL, ICICI Bank, Hindalco, Axis Bank and M&M were among losers.

US-based Goldman Sachs, with a global turnover of nearly USD 35 billion, has a significant presence in India as well.

Gold prices gained modestly, in an otherwise lacklustre and cautious trade at the domestic bullion market owing to stray buying support.

The broad-based NSE index Nifty closed 57 points, or 0.72 per cent higher at 7,968.85.

The Sensex finally settled at 26,468.36, down 276.33 points, or 1.03 per cent. This is its weakest closing since August 26.

The rupee lost 7 paise to 61.01 against the dollar at the Interbank Foreign Exchange market due to increased demand for the US currency from importers.

Consumers should be prepared to pay high prices in the coming festival and winter season, it added.