Sensex dips below 14K at mid-session

BSE Sensex falls below 14,000 points at mid-session on Tuesday as funds offloaded part of their holdings in heavyweight stocks.

The robust industrial growth figures failed to cheer the stock market as the benchmark BSE Sensex fell below 14,000 points at mid-session on Tuesday as funds offloaded part of their holdings in heavyweight stocks.

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The Sensex, which began the day with a rise of 55 points, fell 105.67 points at 13,969.60 at 1330 hrs, discounting report of a surge in manufacturing and industrial growth.

A buoyant manufacturing sector pushed up industrial growth to 13.6 per cent in April against 9.9 per cent in April 2006, according to government data released on Tuesday. Manufacturing rose by 15.1 per cent during the month.

The wide-based National Stock Exchange index Nifty also dropped by 37.10 points at 4,108.50 as most of the segment stocks, including infrastructure, were in negative zone.

Meanwhile, the mega issue of realty giant DLF Ltd was fully subscribed and escaped from the current weakening trend in the stock markets.