Sensex ends flat after a roller-coaster ride
The BSE benchmark Sensex today closed flat after a highly volatile trade which saw profit booking at every surge, diluting the positive impact of a rescue package by US administration for global financial giant Citigroup.business Updated: Nov 24, 2008 16:57 IST
The Bombay Stock Exchange benchmark Sensex on Monday closed flat after a highly volatile trade which saw profit booking at every surge, diluting the positive impact of a rescue package by US administration for global financial giant Citigroup.
The BSE bellwether index settled the day at 8,903.12 point, a moderate loss of 12.09 points from its last close.
National Stock Exchange index Nifty rose by 14.80 points at 2708.25.
The BSE index fluctuated between between 9,042.02 and 8,701.93 points, mirroring the volatility in trade.
Marketmen said US government decision to bail out Citigroup eased the gloomy outlook but investors were unwilling to build fresh positions as other indications from global financial markets were weak.
They said the rescue plan for the global financial giant did not realy elevate the sentiment as investors remained nervous as the US bank has large portfolio holdings in many Indian companies. Investors feared Citi may have to liquidate them if problems get worsened.
A steep fall in realty segment index by 3.78 per cent at 1583.30 mainly pulled down the market. It was followed by banking sector index by losing 3.14 per cent at 4454.68.
Consumer Durable index fell by 2.33 per cent at 1751.90 followed by metal sector index by 1.55 per cent at 4309.73 and capital goods index lost 0.03 per cent at 6554.72.
First Published: Nov 24, 2008 16:54 IST