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Sensex snaps two-day rally

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MUMBAI: The Bombay Stock Exchange sensitive index, Sensex hit a 45-day high of 17,329 on Wednesday.

But the benchmark index closed lower by 28 points at 17169.91 against 17198.27 on Tuesday due to late hour profit-booking, snapping a two-day smart rally.

Brokers attributed the marginal decline, despite a positive opening on the back of firm Asian cues, to large scale profit-booking towards the last 30 minutes of trade, driven primarily by a near flat European opening.

The Sensex surged 294 points on Monday, and 272 on Tuesday on strong expansions of the economy in the second quarter. Realty and auto counters attracted good buying support while some of the power and FMCG shares registered losses.

Tata Motors was the top gainer with a 4.14 per cent at Rs. 729.79. Great Offshore tumbled by 5.89 per cent to Rs. 512.95 as ABG Shipyard, which is locked in a takeover battle for the company with Bharati Shipyard, backed out of the race by selling 8.27 per cent stake in the offshore drilling firm through stock market sale.

Marginal rise in rupee

The dollar ended slightly higher against the rupee at 46.34/35 on Wednesday against 46.32 on Tuesday. At the inter-bank foreign exchange market, the rupee moved in a range of 46.14 and 46.36 before ending at 46.35. — PTI


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