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Sensex surrenders early gains, closes 14 points up

Sensex surrenders early gains, closes 14 points up
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First Published: Thu, Mar 15 2007. 07 30 PM IST
Updated: Thu, Mar 15 2007. 07 30 PM IST
PTI
Mumbai: A recovery in Asian markets after an overnight meltdown notwithstanding, the benchmark Sensex remained under pressure and surrendered major part of early gains, but managed to end in positive terrain on 15 March.
The Bombay Stock Exchange (BSE) 30-share Sensitive Index (Sensex), opened remarkably higher at 12,655.94 from Wednesday’s close of 12,529.62 and rallied further to a high of 12,789.81 on firm global cues, a smart rise of over 260 points, in morning trade.
However, higher levels attracted profit-booking, on the expectation that the US recession would affect world markets. The key barometer then dropped to close at 12,543.85, a modest recovery of 14.23 points or 0.11%.
On 14 March, the Sensex had fallen by a massive 453.36 points.
The broader S&P CNX Nifty of the National Stock Exchange also edged up by 2.50 points, or 0.07%, to end at 3,643.60 from previous close of 3,638.50.
IT and metal counters were in limelight and helped the Sensex to close in green while banking and auto shares bore the brunt of heavy selling, cutting early sharp gains.
Foreign institutional investors turned net sellers and after pulling out Rs861.4 crore on 14 March. They had withdrawn Rs541.37 crore (provisional) from cash and Rs1,281.96 crore from derivatives on 15 March.
Meanwhile, in Asia, the Hang Sent ended 132.51 points up, the Nikkei-225 rose 183.50 points, Strait Times by 41.39, Kospi by 19.56 and Taiwan’s Weighted Index by 125.69 points.
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First Published: Thu, Mar 15 2007. 07 30 PM IST
More Topics: Money Matters | Equities |