The Hindu : Business : Sensex ends flat

Online edition of India's National Newspaper
Wednesday, Mar 15, 2006

Business

Business

Sensex ends flat

MUMBAI: The Sensex succumbed to heavy profit selling after touching another trading record at 10,896.39 in a roller coaster ride and ended flat on Tuesday despite consistent foreign institutional investment inflows.

The Bombay Stock Exchange 30-share sensitive index (Sensex) scaled an all-time intra-trade peak of 10,896.39 and moved erratically throughout the day due to alternate bouts of buying and selling before closing the day at 10,801.72 against Monday's close of 10,803.71.

The FIIs and domestic mutual funds were believed to be consistent heavy buyers in several key counters.

The FIIs pumped in over Rs. 1,719 crore in equity while the mutual funds were net buyers to the tune of Rs. 1,277 crore during last week.

Operators and retailers, however, booked heavy profits at the day's higher levels in a number of counters.

Shares of SBI and Tata Steel attracted brisk activity as FIIs reported cross deals in both the heavyweighted stocks.

The FIIs made net purchases of Rs. 496.11 crore in SBI and Rs. 196.28 crore in Tata Steel in a single session on Tuesday.

SBI, ICICI Bank, HLL, HDFC, RIL, ONGC and Tata Motors recorded remarkable gains.

The market is expected remain highly volatile as it nears the crucial 11,000 level.

The Asian markets too exhibited a weak trend during the day. The Nikkei ended down by 123.15 points, the Hang Seng by 22.31 points, the Taiwan index by 84.62 points and the Kospi by 11.98 points.

Selling pressure was more pronounced in the metal sector. As a result, the BSE Metal Index dipped by 114.09 points or 1.49 per cent to 7530.49. — PTI

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