The Hindu : Business : Sensex hits new intra-day peak

Online edition of India's National Newspaper
Wednesday, Jan 05, 2005

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Business

Sensex hits new intra-day peak

MUMBAI, JAN. 4. After hitting an all time intra-trade peak of 6696.31 within minutes of resumption of session, the Sensex today moved downwards and ended 28 points lower on selling pressure from domestic investors amid initial upsurge and later fluctuated in a relatively narrow range of about 5 points before ending at 6651.01 against yesterday's close of 6679.20, a net fall of 28.19 points.

Operators and domestic mutual funds were believed to be heavy sellers even as foreign institutional investors slowed down their activity after pumping in huge funds into the Indian capital market. Attributing the sell-off by local investors to lack of any worthwhile buying support, brokers said the market was in the process of consolidation before announcements of corporate results for the third quarter from next week.

Heavyweighted counters, including RIL, BHEL, Dr. Reddy's, Hindalco, Infosys Technologies, Maruti Udyog, Ranbaxy and SBI recorded sharp falls due to selling pressure. However, Grasim, ACC, GACL, Hero Honda, HLL, HPCL, ICICI Bank, Tata Power and Zee Telefilms showed moderate gains — PTI

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