Sensex falls from records on profit selling

Sensex falls from records on profit selling
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First Published: Thu, Nov 01 2007. 04 36 PM IST
Updated: Thu, Nov 01 2007. 04 36 PM IST
Closing
Mumbai: Sensex failed to hold on to the record peak it reached earlier in the day and closed with a loss of over 114 points on emergence of profit selling by funds at the higher levels.
The Sensex, which commenced the day with a gain of over 366 points, fell back sharply by losing 113.64 points at 19,724.35 as heavy-weights like Reliance Industries, Bharti Televenture, ACC and Maruti ended lower.
The wide-based National Stock Exchange index Nifty, which recorded an all-time high of 6,000 points at open, experienced profit booking by funds and closed 34.23 points lower at 5,866.45. It touched the day’s high of 6,011.95 and low of 5,837.20 points.
However, capital goods and banking index rose.
While all other sectoral indices closed lower, capital goods index gained 345.87 points at 20,141.19 and banking index by 196.36 points at 10,851.69.
Sensex and Nifty recorded new peaks early in the day after the US Federal Reserve cut the key interest rate by 25 basic points to 4.5%. PTI
Afternoon
Mumbai: Sensex rose 6.27, or less than 0.1%, to 19,844.26 at 12:30 pm local time. It earlier fell as much as 0.7%.
The S&P/CNX Nifty Index on the National Stock Exchange climbed 14.30, or 0.2%, to 5,914.95. Nifty futures for November delivery slid 0.1% to 5,901.
Morning
Mumbai: The National Stock Exchange index Nifty briefly crossed the milestone of 6,000 points in early trade on heavy buying by foreign funds after the US Federal Reserve slashed interest rates by 25 basis points yesterday.
The Bombay Stock Exchange was equally buoyant. Its 30-share Sensex spurted by 366.22 points to hit 20,204.21 points in the first five minutes of trade.
The 50-share Nifty went up by 111.30 point at 6,011.95 with most of the index linked stocks trading in green.
It later pared some of the gains, and was at 5993 at 10:45am, showing a gain of 92 points.
The market also received a booster from the Hong Kong share prices which opened higher today, up 1.27%, tracking Wall Street’s gains after the US Federal Reserve cut its key interest rate by 25 basis points.
The US Fed cut its target for the federal funds rate to 4.5% from 4.75%, meeting the expectations of most analysts. PTI
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First Published: Thu, Nov 01 2007. 04 36 PM IST