Sensex shied away from 10K
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Sensex shied away from 10K

Sensex scaled another new peak at 9,993.92 during the week.

india Updated: Feb 04, 2006 14:37 IST

The Sensex scaled yet another new peak at 9,993.92 during the week under review but shied away from the 10K psychological mark even as the week ended with a loss of 1.3 per cent on heavy unloading by operators alternated by good FII inflows.

In the week to February 4, the Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex) rallied smartly to an all-time intra-day high of 9,993.92 on Wednesday but later fell back to end the week at 9,742.58 against last weekend's close of 9,870.79, a net fall of 128.21 points.

The Sensex was expected to hit the magic level during midweek but bulls prevented it by booking heavy profits when it neared this level.

Despite fairly heavy inflows, operators as well as retail investors preferred to book profits after indices touched the dizzy heights. Initially, Foreign Institutional Investors (FIIs) absorbed the sales made by local players.

Bank shares bore the brunt of investors' wrath and the losses in the sector could be gauged by a whopping fall of 303 points or 5.71 per cent in the Bankex, which ended the week at 5,002.48 from last weekend's close of 5,305.67.

Small-cap stocks too were at the receiving end due to across-the-board profit booking by investors in the segment. As a result, the BSE Small-Cap Index tumbled by 326.59 points or 5.12 per cent to end the week at 6,053.67 from previous weekend's close of 6,380.26.

FIIs reported net investments of Rs 1,089.5 crore in three days after their withdrawals of Rs 348 crore on January 30.

BHEL, L&T, Grasim, Tata Motors and ACC scoared impressive gains while Infosys Tech, Bajaj Auto, SBI, ICICI Bank and Satyam Computers suffered a sharp setback.

Among other indices, the broad-based BSE-100 Index fell back by 64.24 points to end the week at 5,141.85 from previous weekend's close of 5,206.09.

The BSE-200 Index and the Dollex-200 were quoted sharply down at 1,232.81 and 464.03 at the weekend compared to last weekend's close of 1,248.86 and 470.94 respectively.

The BSE-500 Index dipped by 58.01 points to finish the week at 3,947.32 from preceding weekend's close of 4,005.33 and the Dollex-30 ended lower at 1,808.42 from 1,835.54 at the last weekend.

On the National Stock Exchange (NSE), the S&P CNX Nifty and the S&P CNX Defty tumbled by 42.15 points and 38.25 points to close the week at 2,940.60 and 2,304.75 against previous weekend's close of 2,982.75 and 2,343.00 respectively. The S&P CNX Nifty Junior dropped by 101.15 points to conclude the week at 5,824.75 from 5,925.90 at the last weekend.

The volume of business on the BSE and the NSE was relatively high at Rs 18,150 crore and Rs 34,612 crore compared to last week's turnover of Rs 16,413 crore and Rs 30,827 crore respectively.

First Published: Feb 04, 2006 12:45 IST