Sensex dips below 14K level at midsession

Sensex dips below 14K level at midsession
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First Published: Fri, May 04 2007. 03 25 PM IST
Updated: Fri, May 04 2007. 03 25 PM IST
By HK
Mumbai: Trading sentiment reversed as the Bombay Stock Exchange benchmark Sensex plunged over 129 points at mid-session today on heavy selling by funds in index-heavy Reliance Industries and Infosys Technologies.
The 30-share index, which had opened higher by 111 points, fell by 129.67 points at 13,948.54 at 1300 hrs while the wide-based National Stock Exchange lost 31.20 points at 4,119.65.
However, some buoyancy in cement stocks led by ACC, Grasim, Gujarat Ambuja after the government reduced excise duty on the product, saved the benchmark index from any major fall.
Grasim, the nation’s third-biggest cement maker, gained Rs47.45, or 1.9%, to 2,540.
ACC and Grasim surged 2.3% each to Rs 873 and Rs 2,550, respectively. Gujarat Ambuja gained 2% to Rs 124.
HLL moved up by 1.5% to Rs 199. Tata Steel, Reliance Energy, Bajaj Auto, Reliance Communications, Hindalco and Cipla are up over 1% each.
Satyam has slipped 1% to Rs 474.
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First Published: Fri, May 04 2007. 03 25 PM IST
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