Sensex closes 114 points down on profit selling

Sensex closes 114 points down on profit selling


Mumbai: Sensex today fell 144 points on heavy selling by funds at existing higher levels in stocks led by banking sector.

The 30-share index, which regained strength to reach closer to 20,000 milestone yesterday, dropped by 144.17 points at 19,784.89 after touching the day’s high of 19,967.08 and low of 19,723.20 points.

Wide-based National Stock Exchange’s Nifty fell by 25.80 points at 5,912.10. It touched the day’s high of 5,966.95 and low of 5,895.65 points.

Bank stocks faced major selling pressure and banking index plunged the most by 172.80 points at 11,053.02, followed by information technology index that declined 83.83 points at 4,196.49. Consumer durable index also lost 73.52 points at 5069.79.

However, a steep rise in realty index by 207.06 points at 10,523.42 and oil and gas index by 177.01 points at 12,315.88, averted any major fall in the benchmark index.

Late Morning and Afternoon

Mumbai: Sensex recovered a major part of its initial losses, but was still in the negative terrain on selling at higher levels amid weak global cues.

At 1301 hrs Sensex was trading at 19,740.03, down 189.03 points, Nifty at 5,901.90, down 36 points.

The BSE 30-share barometer fell to a low of 19,768.98 immediately after resumption of dealings, down by over 160 points over yesterday’s close of 19,929.06.

However, it had recovered partly to 19,870.74 at 1030 hrs, still showing a fall of 58.32 points.

The index had surged by a record 893.58 points or 4.69% yesterday.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) was quoted at 5,948.20, a rise of 10.30 points over the previous close of 5,937.90.

Besides Nikkei, all other Asian indices were trading in the red this morning on the back of overnight fall on Wall Street.

Dealers attributed the loss on the Sensex to selling at higher levels and expected consolidation in a range of 18,000 and 21,000 level.

Foreign Institutional Investors (FIIs) bought shares worth Rs163 crore (provisional) on 14 November and reportedly they were net sellers to the tune of Rs1,951 crore during this month so far.

Bharti Airtel, Grasim, Hindalco, Maruti, NTPC, ONGC, REL, SBI, Tata Motors and Tata Steel were quoted firm, while RIL, BHEL, HDFC, HDFC Bank, ICICI Bank, Infosys Tech, Satyam Computer, TCS and Wipro showed losses.


Mumbai: The Sensex today opened lower by 161 points on emergence of profit selling by funds.

The 30-share index, which gained 893 points yesterday, declined by 161.08 points to 19,768.98 in the first five minutes of trade.

However, the wide base National Stock Exchange index, Nifty, gained 23.80 points to 5,961.70 points as heavyweights like ONGC and Suzlon moved higher.