Market snaps three-day winning streak, down by 15 pts
Sensex snapped a three-day winning streak and on Tuesday ended 15 points down in choppy trade.india Updated: Jan 16, 2007 19:41 IST
The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, snapped a three-day winning streak and on Tuesday ended 15 points down in choppy trade after touching a new intra-trade peak of 14,211.15.
The market sentiment, however, remained bullish on the back of healthy third quarter performance by corporates and sustained FII inflows.
After hitting a new record high during initial trading, the benchmark Sensex later fluctuated erratically between 14,211.15 and 14,070.65 before closing at 14,114.73, a net fall of 14.91 points or 0.11 per cent over Monday's close of 14,129.64.
However, the broader S&P CNX Nifty of the National Stock Exchange (NSE) closed 2.10 points or 0.05 per cent up at 4,080.50 from the previous close of 4,078.40.
Heavy profit booking in heavyweighted stocks like RIL, Infosys Tech, SBI, HDFC, Hero Honda, Tata Steel and HLL, which registered marked falls at close, weighed down the sentiment.
Traders and operators were believed to be booking profits at higher levels, while Foreign Institutional Investors (FIIs) covered positions in the derivatives segment.
Attributing the initial surge to reports that around the first 80 corporates posted a hefty 84 per cent rise in third quarter net profits, brokers said positive activity for the last three days by FIIs was another trigger for the market.
FIIs reported inflows of Rs 304 crore (provisional) in the Cash, while pumping in Rs 580 crore in the Futures and Options on January 15.