Markets close weak, Sensex down by 110 points
The markets failed to hold on to early gains and closed weak with the benchmark Sensex losing about 110 points.business Updated: May 05, 2008 16:35 IST
The markets failed to hold on to early gains and closed weak with the benchmark Sensex losing about 110 points.
The 30-share Sensex, which commenced the day higher, closed with a loss of 109.22 points at 17,490.90. The index touched the day's high of 17,735.70 and a low of 17,457.27 points.
The wide-based National Stock Exchange index Nifty also lost 35.95 points at 5,192.25. It touched a high of 5,254.50 and a low of 5,182.60 points.
Marketmen said profit selling emerged at existing higher levels, turning the trading sentiments bearish. Consumer durable stocks index suffered the most by 101.29 points at 4,467.56, followed by auto index by 49.02 points at 4,812.13. IT index also dropped by 41.24 points at 4,317.34.
However, a rise in realty index by 22.70 points and PSU sector index by 25.39 points at 8,198.40, saved the key-index from any major loss.