Sensex falls 21 points on profit selling

Sensex falls 21 points on profit selling
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First Published: Tue, Jul 17 2007. 04 39 PM IST
Updated: Tue, Jul 17 2007. 04 39 PM IST
Mumbai: The stock market benchmark Sensex fell 21 points on 17 July as funds booked profit in metal, capital goods and auto stocks.
The Sensex climbed to a new intra-day peak of 15,440.20 points but closed with a loss of 21.40 points at 15,289.82. It touched a low of 15,272.46 points on aggressive selling in shares at prevailing high levels.
Similarly, the 50-share Nifty of the National Stock Exchange moved between 4,550.25 and 4,488.25 points before settling at 4,496.75 points, a loss of 15.40 points.
Brokers said selling was sparked as stocks in metal and capital goods segment have remained high in last few trading session. They said funds booked profits at higher levels.
“Morning buying momentum was led by TCS earnings data. The markets eased on profit booking but we expect buoyancy to sustain in coming days,” said Advait Date, dealer with brokerage BHH Securities.
Reliance Industries was the star performer in today’s trading and the counter attracted heavy buying from overseas funds and general investors. The reports of RIL finding gas in a Cauvery basin block sparked stock prices to a new record closing high at Rs 1827.35, a gain of Rs 50.80. The stock has maximum weightage on the key indices and saved the Sensex from any major fall.
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First Published: Tue, Jul 17 2007. 04 39 PM IST
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