Sensex sheds 79 points in volatile trade
The Sensex settled at 14,577 points, down 78 points from its previous close, after scaling the day's high at 14,725 points.business Updated: Aug 04, 2008 16:45 IST
The Bombay Stock Exchange's benchmark Sensex on Monday closed with a 79-point loss in a volatile trading session marked by alternate bouts of buying and selling by institutional investors.
The Sensex settled at 14,577.87 points, down 78.82 points from its previous close, after scaling the day's high at 14,725.94 points. It fell to an intra-day low of 14,503.51 points as 16 out of the 30 Sensex stocks settled in the negative territory.
The wide-based National Stock Exchange index Nifty declined by 18.20 points at 4,395.35, after touching the day's high of 4,436.15 and a low of 4,362.90 points.
The fall in the benchmark was led by sectors like refinery, capital goods and power.
Reliance Industries, the country's most valued firm, fell by Rs 57.25 to Rs 2,242.50, BHEL by Rs 52.35 to Rs 1,714.15 and Larsen and Toubro by Rs 35.85 to Rs 2,656.55.
The three stocks carry nearly 27 per cent weightage on the Sensex.
However, Infosys Technologies recording a smart rise of Rs 15.70 to close at Rs 1,655.80 and Grasim Industries gained Rs 58.30 to Rs 1,894.40, averting any major fall in the key index.
Buying was also seen in a number of smallcap and midcap companies. The BSE Smallcap index surged 123.24 points to 7103.34 and Midcap index gained 99.98 points to 5,742.72.