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Sensex ends eight-session gaining streak; down 19 pts

Sensex ends eight-session gaining streak; down 19 pts
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First Published: Wed, Sep 05 2007. 04 31 PM IST
Updated: Wed, Sep 05 2007. 04 31 PM IST
Mumbai: The market snapped its eight-day long winning streak today (5 September) with the Sensex ending with a small loss of 19 points on profit booking by funds.
Barring today, the BSE-30 index has gained 1,282 points in the last eight sessions, its longest upward march since 10 May 2006. The Sensex today lost 19.25 points at 15,446.15 as funds booked profits at higher levels.
Similarly, the National Stock Exchange’s Nifty fell by 3.40 points at 4,475.85.
Marketmen said trading sentiment also turned bearish on reports of Asian stocks dropping for a second day after comments by a senior Japanese government official reignited concern that losses from US subprime mortgages will spread.
They said a constant surge in the market pushed up stock prices to an attractive level for profit-takers. The undercurrent of the market remained bullish as barring two, all the sector indexes remained in better form, they added.
Capital good index fell by 65.90 points at 13,566.71, and oil and gas index by 45.95 at 8,141.59 points. However, realty index rose by 57.56 points at 7,520.04, consumer durable index by 47.11 points at 4,448.64, IT index by 20.45 points at 4,646.29, metal index by 20.02 points at 11,598.59 and healthcare index by 18.33 at 3,698.69 points.
Pre-noon (second update)
In a volatile day at the bourses, the Sensex and Nifty both shed their initial gains and were in the red a few minutes before noon on 5 September. At 1151 hours, the Sensex was 10 points trading at 15,455. It had posted a gain of 115 points in the morning session.
The Nifty was down 9 points to 4,469.
The markets shed their initial gains and briefly slipped into the red before bouncing back into the green. At 1107 hours, The BSE Sensex was trading 5 points up at 15,470 levels.
Mumbai: The benchmark Sensex maintained its upward march for the ninth straight session by gaining over 115 points in the early morning trade on the Bombay Stock Exchange today on buying by funds.
The 30-share Sensex, which had been moving upward over the last eight days, added another 115.46 points to touch 15,580.86 in first five minutes of trading as fund continued buying in heavy-weight stock.
Similarly, the wide-base National Stock Exchange’s Nifty rose by 28.25 points at 4,507.50.
A firm global trend boosted trading sentiment at early stage on the bourses across the board. Support mainly came from stocks of cement, reality and heavy machinery company.
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First Published: Wed, Sep 05 2007. 04 31 PM IST
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