Sensex closes below 15K level
The benchmark index sheds nearly 100 points to close below 15,000 points level, tracking weak global markets.business Updated: Jul 11, 2007 16:47 IST
Even a better-than-expected Q1 earnings from IT bellwether Infosys failed to stop market barometer Sensex from shedding nearly 100 points to close below the 15K level, as funds resorted to selling on weak overseas cues.
The 30-share BSE index, which reached an all-time high of 15,114.95 points on Tuesday, attracted selling at prevailing levels and fell back to close the session down by 99.26 points or 0.66 per cent at 14,910.62.
It had touched a day's low of 14,829.55. Similarly, the wide-based National Stock Exchange, Nifty, ended 18.90 points or 0.43 per cent at 4,387.15.
Market observers said Wednesday's sell-off in stocks led by Information Technology sector, was mostly attributed to weakening global markets.
Marketmen said impressive first qurter earnings by Infosys Technologies also failed to cheer the trading sentiments.
Software major Infosys Technologies posted a 27.70 per cent increase in net profit after tax at Rs 1,028 crore for the quarter ended June 30, compared to Rs 805 crore for the same period last year.
Major losers were IT sector index by 168.22 points at Rs 4,868.77 and Teck index 76.86 points at 3,778.13. However, stocks of realty sector were in keen demand, lifting the segment index by 249 points at 7,626.53 points. Among realty stocks DLF Ltd, Indiabull Real, Mahindra Gesco, Parsvnath, Unitech Ltd, Sobha Developers and Ansal Infrastructure.