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Sensex loses early gains, ends lower by 74 points

Sensex loses early gains, ends lower by 74 points
PTI
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First Published: Tue, Dec 04 2007. 04 44 PM IST
Updated: Tue, Dec 04 2007. 04 44 PM IST
Closing
Mumbai: Sensex failed to hold its early gains and closed with a fall of nearly 74 points on the Bombay Stock Exchange today on profit-selling by funds.
The Sensex, which commenced the day with a rise of 106.45 points, fell back to close lower by 73.91 points at 19,529.50 as mid-way profit selling wiped off early gains.
Similarly, the wide-based National Stock Exchange index Nifty declined by 6.65 points to 5,858.35, after touching the day’s high of 5,897.25 points and a low of 5,840.30 points.
A steep rise in metal, consumer durable and capital goods sector stocks averted any major fall in the markets. Metal index rose by 588.04 points to 18,869.28, consumer durable index by 350.89 points to 6083.04 and capital goods by 213.45 points to 20,175.93.
The benchmark index fell after the heavyweight stocks of Reliance Industries dropped by Rs 68.35 to Rs 2,863.85, Reliance Energy by Rs 7.35 at 1,893.10, Grasim Industries by Rs 26.05 to t Rs 3,813.50 and ICICI Bank by Rs 24.85 at Rs 1,140.40.
Afternoon
Mumbai: Sensex, swung between gains and losses on 4 December. It added 25.50, or 0.1%, at 19,628.91 as of 1:35 pm local time, after slipping as much as 0.2%.
The S&P/CNX Nifty Index on the National Stock Exchange was also little changed at 5,865.55. Nifty Futures for December delivery added 0.2% to 5,885.
Late Morning
Mumbai: Sensex was up 38 points in late morning trade amid signs of consolidation at the current levels amid anticipation of rate cuts by world’s major economies.
European Central Bank and Bank of England are scheduled to meet on 6 December to consider any change in interest rates, while the US Federal Reserve is likely to cut its fund rate by 25 basis points in its meeting on 11 December.
Traders said the market is in a consolidation mode right now with a strong resistance at Sensex’s 19,750 level and any decision on interest rate cut by these economies would have a impact on Indian bourses.
The BSE barometer was quoted 37.56 points up at 19,640.97 at 10:30 am over yesterday’s close of 19,603.41.
The BSE barometer crossed 19,700 level and touched a high of 19,707.86 in the initial five minutes of trade but fell back due to profit booking by investors.
The broader S&P CNX Nifty of the National Stock Exchange also improved by 11 points to 5,876.00 at 10:30am from previous close of 5,865.00.
Consumer durable, oil and gas and capital goods shares were in keen demand for the second consecutive day.
Similarly, the small-cap and mid-cap stocks too attracted heavy buying interest during morning deals.
Opening
Mumbai: The Bombay Stock Exchange benchmark Sensex maintained its upward march and rose by 104 points in early trade on 4 December on sustained buying by foreign as well as domestic funds.
The 30-share index, which gained 240 points on 3 December, added another 104.45 points to touch 19,707.86 points in the first five minutes of trade. The wide-based National Stock Exchange index, Nifty, also moved up by 32.25 points to 5,897.25 points.
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First Published: Tue, Dec 04 2007. 04 44 PM IST
More Topics: Stocks | Open | Sensex | Nifty | Foreign |