The Hindu : Business : Sensex ends flat

Online edition of India's National Newspaper
Wednesday, Dec 07, 2005

Business

Business

Sensex ends flat

MUMBAI: The Bombay Stock Exchange benchmark index on Tuesday ended flat after a roller-coaster ride on alternate bouts of buying and selling.

Foreign institutional investors were believed to be heavy buyers even at the higher levels and absorbed large chunk of sales made by private mutual funds, particularly in the last one hour of the session.

The BSE 30-share sensitive index (Sensex) opened better at 8827.00 and later fluctuated between 8915.12 and 8783.93 before ending at 8815.53 against 8823.31, a net loss of 7.78 points.

Sentiment was dampened by weak price trend in Southeast Asian markets. The Nikkei ended down by 127.93 points, the Hang Seng by 168.21 points and the Singapore ST index by 24.26 points. The market was well supported by sustained purchases by FIIs, who reported net investments of Rs. 514.70 crore on December 2, taking the total inflows during last week to Rs. 1,513.8 crore.

Despite sharp appreciation in the value of the rupee at 46.22 a dollar during the day, domestic mutual funds remained sellers at the prevailing price levels, brokers said.

Meanwhile, global rating agency Standard & Poors' has affirmed `BB+' long-term rating on India with a stable outlook while maintaining a `B' rating for the short-term.

The broad-based BSE-100 index moved down further by 10.01 points to 4669.49.

The BSE-200 was quoted down at 1120.29 against 1122.37 while the Dollex-200 was steady at 403.89 against 403.77.

PTI

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