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Sensex end 70 points lower as investors lock-in gains

Sensex end 70 points lower as investors lock-in gains
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First Published: Thu, Oct 04 2007. 05 20 PM IST
Updated: Thu, Oct 04 2007. 05 20 PM IST
Closing
Mumbai: Sensex snapped the 11-day rally by falling 70 points on the BSE on 4 October due to heavy profit-selling by funds at the existing higher levels.
The 30-share index , which was on an upward march for the last 11 straight trading sessions to reach close to 18,000 points, shed 69.90 points to close at 17,777.14, after touching the day’s high of 17,890.49 points and low of 17,494.70.
Similarly, National Stock Exchange’s Nifty settled lower by 2.15 points at 5,208.65, after touching an intra-day high of 5,233.10 points and a low of 5,126.05.
A steep rise in metal and capital goods stocks averted any major fall in in the Sensex and Nifty. Metal index surged the most by 223.35 points to 14,384.87, followed by capital goods index, which rose 184.13 points to 15,253.33. Consumer durable index shot up by 130.26 points to 4,870.23.
Afternoon
Mumbai: Sensex fell from a record, snapping its longest winning streak in almost four years. ICICI Bank Ltd led declines after some investors judged recent gains excessive.
Sensex slid 248.2, or 1.4%, to 17,598.63 as of 1:36 pm local time, ending the benchmark’s 11-day rally.
The S&P/CNX Nifty Index on the National Stock Exchange declined 31.2 points, or 0.6%, to 5,179.6. Nifty futures for October delivery fell 0.6%, at 5174.
ICICI Bank extended losses to Rs46.5, or 4.3%, to 1,041.5. The stock has risen 20% since the end of August through 3 October.
Morning
Mumbai: Sensex slid 8.76, or less than 0.1%, to 17,838.28 as of 10:44 am local time, ending the benchmark’s 11-day rally, its longest since 13 October 2003. Sixteen stocks advanced while 14 declined in the index.
The S&P/CNX Nifty Index declined 12, or 0.2%, to 5,222.80. Nifty futures for October delivery added 0.1%, to 5,211.25.
Opening
Mumbai: Indian shares opened down 0.27% on 4 October, tracking weak Asian markets and led by losses in ICICI Bank Ltd and Infosys Technologies Ltd.
At 9:57 am , the 30-share BSE index was down 0.58%, or 103.06 points at 17,743.98 points. The market hit a record high of 17,953.07 points on 3 October.
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First Published: Thu, Oct 04 2007. 05 20 PM IST
More Topics: Stocks | Shares | Markets | Sensex | Nifty |