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Sensex sheds 99 pts, Nifty gains 7 pts at closing

The 30-share BSE index closes the day with a loss of 99.40 points at 20,728.05, while NSE index Nifty improves by a nominal 6.70 points to 6,206.80.

business Updated: Jan 14, 2008 18:21 IST

The Bombay Stock Exchange benchmark index Sensex on Monday lost nearly 99 points amid selling by retail investors who, market players say, are trying to arrange funds to invest in the forthcoming public issues. Profit-selling by funds also contributed to Monday's downfall.

The 30-share BSE index, which gathered nearly 245 points on Friday, closed the day with a loss of 99.40 points at 20,728.05 as heavyweight stocks in IT, consumer durable, teck and auto sectors declined.

The National Stock Exchange index Nifty, however, improved by a nominal 6.70 points to 6,206.80 as some of index-related refinery stocks led by Reliance Industries closed higher. Reliance Industries shot up by Rs 88.15 to Rs 4,216.30 at NSE, a new record high level.

IT sector index suffered the most by losing 116.82 points at 3,987.06, followed by consumer durable index by 90.77 points at 6,119.67. Teck index lost 82.56 points at 3,720.73 and auto index by 38.54 points at 5,374.47.

Bucking the trend, oil and gas index shot up by 294.23 points to 14,126.83 and realty index by 164.27 points to 13,647.15. Metal index spurted by 105.40 points to 18,856.00 and PSU index rose by 129.92 points to 10,528.65.