Profit booking pulls down Nifty

The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70.
Equity benchmark Sensex dropped by 60 points in opening trade on Wednesday due to selling in financial, IT and energy stocks as investors booked profit after sharp gains in the previous session. However, mid-cap and small cap Index gained half percent each.
· Banking, Tech stocks are witnessing profit booking while Realty and Metal stocks recorded smart rally.
Nifty Midcap 100 index today rose 0.5% cross the psychological level of 20,000 for the first time in over two years. The Nifty Midcap index rose to 20,020 at day's high as compared to a flat Mumbai market. Nifty Midcap 100 index has rebounded strongly from March lows. It is up about 70% from April 1 this year.
Stocks in momentum – Phoenix Mills, Oberoi Ralty, HEG, Rain Industries, Tata Chemical, Graphite Industries, SAIL, NALCO. Tata Consumers is up 1.5% after the media reports that the Tata Nears $1.3 Billion Deal to Buy 80% of Bigbasket.