Sensex ends with losses led by IT sector
The benchmark Sensex failed to hold on its early gains and lost over 54 points on the BSE on Tuesday on selling by funds in blue-chip stocks led by software exporters.business Updated: Sep 11, 2007 17:44 IST
The benchmark Sensex failed to hold on its early gains and lost over 54 points on the Bombay Stock Exchange on Tuesday on selling by funds in blue-chip stocks led by software exporters following weakening dollar.
The Sensex, which opened with a gain of nearly 102 points, fell back to close with a loss of 54.06 points at 15,542.77 as most of the technology stocks declined after the rupee rose to its strongest in a month, cutting the local value of dollar-denominated earnings.
The key index touched the day's high of 15,698.98 and a low of 15,506.10 points, showing a wide swing of 192.88 points.
Similarly, the wide-based National Stock Exchange index, Nifty ended with a loss of 10.80 points at 4,497.05, after touching a high of 4538.60 and a low of 4,487.15.
While the IT sector index suffered the most by losing 100.33 points at 4,470.56, the metal sector index stayed away from any major loss and rose by 166.17 points at 11,691.44.
Bank index fell by 62.30 points at 8,038.07, teck index by 50.98 points at 3554.38, auto index by 33.24 points at 4867.13 and healthcare index by 16.99 points at 3703.82.
However, capital good index, PSU index and FMCG index remained in positive zone and extended support to the market.