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Sensex closes down on profit sales

The BSE benchmark index ends day marginally lower despite a positive turnaround in Asian markets.

india Updated: Aug 22, 2006 20:02 IST

Late profit sales wiped out initial gains and the Bombay Stock Exchange (BSE) benchmark, Sensex, on Tuesday ended flat with downward bias despite a positive turnaround in Asian markets.

Taking a serious view of consistent net sales by foreign institutional investors (FIIs) in derivatives segment, bulls adopted a cautious approach after lifting the Sensex above 11,600 mark to the intra-day high of 11,619.86.

The Sensex came under heavy pressure at the fag end of session and touched a low of 11,460.93 before ending the day at 11,502.62 against Monday's close of 11,511.68, a net loss of 9.06 points or 0.08 per cent.

The National Stock Exchange's (NSE) S&P CNX Nifty too inched down by 1.40 points or 0.04 per cent to 3,364.60 from previous close of 3,366.00.

Bulls, which were in upbeat mood in the first half of the session, turned cautious following heavy selling pressure from foreign funds, which reported negative numbers for August 21, according to stock brokers.

FIIs have made withdrawals of Rs 211 crore on Monday, taking net sales to Rs 592 crore in the futures and options in three days from August 17 onwards. As per provisional numbers, they also pulled out Rs 139 crore from cash on the August 21.

Initially, the Sensex rallied smartly on the back of sustained buying in frontline stocks, triggered by firm trend in Asian markets.

The Japan-led the rally in Asian markets. The Nikkei was up by 1.53 per cent.

The trading volume was relatively up at Rs 3,079.31 crore from Rs 2,691.02 crore on Monday. RIL clocked the highest turnover of Rs 134.37 crore followed by Reliance Capital (Rs 90.01 crore), Bombay Dyeing (Rs 85.87 crore), Mahindra Gesco (Rs 75.55 crore) and Rel Com (Rs 65.72 crore).

The broad-based BSE-100 Index eased by 13.45 points to 5,849.48 from previous close of 5,862.93.

The BSE-200 Index and the Dollex-200 were quoted slightly down at 1,381.75 and 494.48 at close compared to last close of 1,384.38 and 496.06, respectively. The BSE-500 Index moved down by 7.04 points to 4,380.11 from previous close of 4,387.15 and The Dollex-30 ended lower at 2,029.91 from 2,034.13.

RIL fell by 3.15 to 1064.85, Infosys Tech by 20.85 to 2391.30, BHEL by 44.30 to 2238.45, Bajaj Auto by 22.70 to 2750.90, Dr Reddy's Lab by 32.70 to 1439.85, Grasim by 18.45 to 2222, SBI by 4.80 to 877.90, Maruti Udyog by 2.75 to 837.75 Tata Motor by 13.55 to 845.65, Satyam Computer by 6.35 to 794.15, Ranbaxy by 8.90 to 391.95, ACC by 6.55 to 906.65, HLL by 3.60 to 232.25 and NTPC by 1.35 to 122.85.

However, HDFC rose by 27.75 to 1317.65, HDFC Bank by 17.65 to 854.45, Hero Honda by 7.25 to 703.60, Hindalco by 2.85 to 164.25, L&T by 20.85 to 2391.30, ONGC by 11.70 to 1201.70, Tata Steel by 7.00 to 515.25, REL by 12.45 to 460.80, TCS by 5.50 to 974.90, Wipro by 1.15 to 511.95 and ITC by a rupee to 181.70.