Sensex hits new peak, ends in negative terrain
Sensex spurted to a new record intra-trade high of 9,945.19, but later failed to maintain its higher levels.india Updated: Jan 30, 2006 17:35 IST
The Bombay Stock Exchange Sensex on Monday breached the 9,900 mark for the first time and later swung in a range of 142 points before ending 22 points lower at 9,849.03 in line with sustained FII inflows alternated by profit booking by local investors.
However, small-cap stocks came under a fresh onslaught of selling pressure and registered widespread losses.
Intially, the BSE's benchmark 30-share Index (Sensex) spurted to a new record intra-trade high of 9,945.19 on the back of heavy purchases by Foreign Institutional Investors (FIIs).
The Sensex later failed to maintain its higher levels as domestic funds and operators resorted to profit booking and dragged it to the day's low of 9,803.68 before ending the day at 9,849.03 against Friday's close of 9,870.79, a net fall of 21.76 points or 0.22 per cent.
The BSE barometer had gained by over 400 points or 4.29 per cent in the preceding three sessions.
Crediting early price rally to a hefty net investments of Rs 1,366 crore in the futures by FIIs on January 27 and a firm trend in Japan market, brokers said operators and mutual funds turned negative as the market neared the 10,000 psychological barrier in early trade.
FIIs absorbed the sales made by local funds during the day, they added.
RIL attracted heavy buying interest and scored impressive gains. Remarkable gains in Dr Reddy's Lab, HDFC, Wipro, Grasim and HDFC Bank contributed positively to mitigate the sensex's downslide.