Business   

Late profit taking pares early gains

MUMBAI DEC. 16. Late profit taking by operators and domestic financial institutions pared early gains and majority of blue chip stocks even ended with substantial losses pushing the Sensex to the negative territory on the Bombay Stock Exchange today despite selective purchases by foreign funds.

Speculators and local funds led by Life Insurance Corporation reportedly were heavy sellers at the day's higher levels after the oil PSE HPCL led a selective rally during the initial period of the session.

Initially, bank shares such as ICICI Bank and SBI which have fairly good weightage in the Sensex, too witnessed hectic buying interest from operators.

The BSE benchmark 30-share index which opened on a strong footing at 3360.20 and rose to the intra-day high of 3371.16, later met with resistance and dropped sharply to end at 3328.39 against last Friday's close of 3342.97, netting a fall of 14.58 points. — PTI

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

Business

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Entertainment | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• Indonesian police detain Polaris CEO
• Nasscom panel considers telecom bottlenecks
• Telco to launch Indigo
• Indian teraflop supercomputer ready
• Late profit taking pares early gains
• Rupee scales new peak
• NTPC to commission third 500 MW unit
• Bridgestone among 23 FDI approvals
• Stollberg to make India production hub
• Indirect tax: Advance Rulings for wholly owned foreign firms mooted
• NEG Micon commissions 9 MW wind farm
• Tiruchi consortium to retrieve lost IT ground
• `WTO regime serving developed nations'
• Stock Market Index
• Exchange rates
• Bullion rates
• Ranbaxy to receive royalty from Bayer
• Crisil upgrades Brakes India NCD rating
• India Intl. Products Expo 2002

Copyright © 2002, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu