Sensex snaps gaining streak, closes at 10,200
Sensex turned weak and was down by 43.29 points to close at 10,200.76 on heavy profit- booking by operators.india Updated: Feb 24, 2006 17:46 IST
Snapping a four-day gaining streak, the Bombay Stock Exchange Sensex on Friday turned weak and was down by 43.29 points to close at 10,200.76 on heavy profit- booking by operators ahead of the Union Budget to be presented Tuesday.
According to market participants, wary retail investors and operators preferred to sit on the fence before making any fresh commitments just ahead of the Union Budget, which is to be presented in Parliament on February 28.
The BSE-30 share Sensex opened better at 10,256.74 as against yesterday's close of 10,244.05 and after moving in a range between 10,271.67 and 10,177.12, finished at 10,200.76, displaying a fall of 0.42 per cent.
Fall in the index could be gauged by sharp to moderate decline in select index-heavyweights like Infosys Tech, HDFC, HDFC Bank, Satyam Computer, Hero Honda, HLL, ITC, ONGC, Wipro, MUL, Dr Reddy, Bajaj Auto, Tata Motors, Bharti and Ranbaxy.
Contrary to the market sentiment, bank and capital goods segments notched handsome gains. Some of the cement scrips also were in the limelight as the railway budget did not proposed any hike in the freight rates, while select steel shares rose smartly on reports of rise in steel prices.
Foreign Institutional Investors (FIIs), the main market movers, continued to buy heavily and reportedly picked up shares worth Rs 1720 crore in the last five sessions and Rs 5323 crore in the current month so far, they added.
The Reliance Energy Ventures Ltd (REVL) was listed on Friday at the BSE at 45.70 and moved in a range between 46.00 and 42.90, before ending at 43.65.