The Hindu : Business : Sensex touches 7392 intra-day

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Thursday, Jul 21, 2005

Business

Business

Sensex touches 7392 intra-day

MUMBAI: Flattering to deceive, the Sensex on Wednesday once again climbed to a new peak at 7392.67 before profit taking corrected it down to the negative tarrain with a marginal loss of four points.

The BSE benchmark 30-share index opened firm at 7373.94 and surged to the intra-day high of 7392.67 before heavy sell-off dragged it down to close the day at 7342.89 against yesterday's close of 7346.63, a net loss of 3.74 points. Continuing the record breaking spree, the Sensex hit a new life-time intra-trade peak of 7392.67 for the third consecutive day.

Initially, operators and traders reportedly made good purchases in select heavyweighted counters but preferred to take profit at the fag end despite sustained foreign institutional investment inflows, which are relatively higher than the corresponding period last year.

The FIIs reported net investments of Rs. 368.40 crore on Monday. They have pumped in over Rs. 24,450 crore in the current calendar year so far.

Discounting a firm trend on Wall Street yesterday and uptrend in the Southeast Asian markets, operators turned heavy sellers during the last 30 minutes of trading in a bid to take profits at the higher levels, brokers said.

The Dow Jones Industrial Average and the Nasdaq Composite Index yesterday ended up by 71.57 points and 28.31 points respectively. — PTI

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