The Hindu : Business : Uptrend halted on BSE

Online edition of India's National Newspaper
Wednesday, Feb 02, 2005

Business

Business

Uptrend halted on BSE

MUMBAI, FEB. 1. The Bombay Stock Exchange sensitive index snapped a four-session gaining streak and ended with a minor loss of 3.47 points at 6552.47 today as select blue chips slipped on profit taking at higher levels after a continuous rally in the previous four sessions.

The market which opened on a positive note, see-sawed on alternate bout of profit taking and supportive buying. As the market had surged sharply in the recent sessions, cautious players preferred to take profits after every rise, brokers said.

Describing the marginal fall in market as just a healthy correction after the key-Sensex shot up by 449.51 points (7.36 per cent) in the previous four sesssions, brokers said all the fundamentals still remained bullish.

The fresh FII inflows, reform in private provident funds, impressive third quarter results, falling inflation and crude oil prices and the strong expectation of a `dream budget', would continue to inspire investors, they said.

The 30-share Sensex which opened 9.27 points higher at 6565.21, rose to a high of 6586.66 and fell to a low of 6508.84 and ended at 6552.47, marginally down by 3.47 points from Monday's close of 6555.94.

The S & P CNX Nifty on the National Stock Exchange, however, ended with a slender gain of 2.25 points at 2059.85, after moving between 2045.25 and 2072.50.

Frontiline stocks showed a mixed trend, while stock-specifed action was seen in mid-cap shares. — UNI

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section