BackSensex snaps 4-day long rally, drops marginally
Sensex snaps 4-day long rally, drops marginally
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Mumbai: The benchmark Sensex ended lower by 18 points on 5 July with a decline in blue-chip stocks led by the technology segment, snapping the four-day long rally.
The Sensex, which had been on an upward march, lost 18.35 points at 14,861.89, after touching an all-time intra-day peak at 14,963.26 with most of IT and tech stocks attracting profit selling at existing higher levels.
Similarly, the wide-based National Stock Exchange index Nifty lost 5.35 points at 4,353.95, after setting an intra-day new peak of 4,378.55 points.
Although selling pressure was seen in infrastructure and refining stocks such as ACC, Grasim and Reliance Industries, it was more confined to IT and technology stocks.
The IT index fell by 49.65 points at 4,791.99, the Tech index by 29.10 points at 3,725.11.
ACC Ltd led cement makers to a fall after some investors judged recent gains excessive and the impact was felt in newly listed stocks of DLF Ltd, which moved between Rs583.95 and Rs526.60, before winding up at Rs569.80 against the offered price of Rs525.
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