Sensex loses early gains, ends flat

Sensex loses early gains, ends flat
PTI
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First Published: Wed, Feb 27 2008. 05 37 PM IST
Updated: Wed, Feb 27 2008. 05 37 PM IST
Mumbai: The Bombay Stock Exchange benchmark Sensex on 27 February closed flat as investors acted cautiously ahead of the Budget 2008-09.
The 30-share index, which had shot up to 18,137.28 points, ended just 19.80 points higher at 17,825.99, gaining for the fourth day in a row.
It touched the day’s low of 17,770.65 as profit-booking wiped off majority of the initial gains.
Of the 30 Sensex stocks, 14 advanced with traded value of Rs676.69 crore, while others declined with a volume of Rs553.99 crore.
The fifty-share Nifty of the National Stock Exchange moved between 5,368.15 and 5,249.75 points before closing at 5,268.40, showing a moderate loss of 1.65 points.
Among sectors that fell were information technology, metal, banking, consumer durables and realty. Capital goods, oil and gas, PSU, healthcare and auto segments gained.
Marketmen said the market remained in better form throughout the day but some selling in the last 30 minutes of trading following brokers squaring up their positions ahead of the general budget mainly reduced major gains.
They said cement stocks led by Grasim Industries tumbled as some leading construction units reported a fall in their realty business.
OPENING GAINS
The Bombay Stock Exchange benchmark Sensex gained 277 points in early trade Wednesday on heavy buying by funds, tracking the global trend.
The 30-share index, which moved up by 156 points Tuesday, added another 277 to 18,083.63 points in the first five minutes of trade.
Wide-based C&X Nifty of the National Stock Exchange rose by 82.10 points to 5,352.90 points as most of the heavy weights gained substantial ground.
Report of a rising trend in the US and Asian stock markets fuelled the surge to some extent.
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First Published: Wed, Feb 27 2008. 05 37 PM IST