The Hindu : Profit booking trims early gains in pivotals

Online edition of India's National Newspaper
Friday, Nov 08, 2002

Business

Business

Profit booking trims early gains in pivotals

MUMBAI NOV. 7. Late profit booking by domestic funds and speculators trimmed early gains in heavyweight counters and the Sensex ended in the negative territory for the second successive session in irregular movements on the Bombay Stock Exchange today.

Domestic funds, led by the Unit Trust of India and operators, were believed to have booked profits in key stocks such as Infosys Technologies, Bajaj Auto, MTNL, L&T, Satyam Computer, SBI and few others, besides RIL and ITC which rallied smartly at early stages. PSE stocks such as HPCL, BPCL, BEL and SCI suffered a marked setback on sustained selling by investors. The BSE benchmark 30-share index which attempted a rally and rose to the intra-day high of 2993.61 in early trading, later moved erratically in a range of 35 points before ending at 2975.26 against Tuesday's close of 2982.39, netting a loss of 7.13 points. The broad-based BSE-100 index also eased by 5.19 points to 1468.03 from 1473.22.

Wipro attracted brisk activity following reports that the company has bagged a major deal from blue chip global investment banker Lehman Brothers. Meanwhile, the Dow Jones Industrial Average rose by about 94 points and the Nasdaq Composite Index added about 18 points yesterday. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business

Stories in this Section

Rupee scales new peak

Microsoft centre to drive ESD strategy

RBI defines 'wilful defaulter'

SBI cuts housing loan rates

Profit booking trims early gains in pivotals

Ogilvy PR ties up with Duo Consulting

Stock Market Index

Exchange rates

Bullion rates

Green business directory

Software for publishers

AirTel's feat

Kinetic Motor sales up

Award for Infosys

GACL and ACC — Revisiting the takeover code

Jalan's master stroke