Late profit booking pares early gains

MUMBAI NOV. 13. Late profit booking by investors pared early gains and select heavyweight counters even ended with minor losses in an extremely dull and scrip-specific activity on the Bombay Stock Exchange today.

Speculators and retail investors, who have adopted a cautious approach after the Moorat session on November 4, in the light of slowdown in FII activity and the absence of any market-moving factor, preferred to book profits at higher levels in key stocks.

Heavyweight shares such as Reliance, MTNL, Infosys, Hindustan lever, Hero Honda, Grasim and ACC attempted a modest rally at early stages but later met with resistance either trimming their gains or closing with marginal losses.

The BSE 30-share index opened remarkably up at 2972.35 and later improved further to the intra-day high at 2977.67 before settling down at 2960.66 against yesterday's close of 2961.24, showing a fractional fall.

The BSE-100 index, however, edged up by 4.15 points to 1469.88 from 1465.73.


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