The Hindu : Business : Sensex misses 12000-mark on profit taking

Online edition of India's National Newspaper
Thursday, Apr 20, 2006

Business

Business

Sensex misses 12000-mark on profit taking

MUMBAI: The Bombay Stock Exchange benchmark Sensex advanced closer to the 12,000-level on attractive corporate earnings, but closed way short of the milestone due to profit taking by investors.

The BSE 30-share Sensex closed at 11,895.98, after touching an intra-day high of 11,986 as software and oil stocks gained currency with funds.

The surging market also received a boost from monetary policy unveiled by the Reserve Bank of India on Tuesday, which was perceived as market-friendly as it did not tinker with key interest rates.

Buying interest was in evidence in index-related software companies such as Infosys Technologies, Tata Consultancy Services, Satyam Computer Services and Wipro, which announced excellent quarterly earnings.

The buying activity spilled over to other segments such as cement and sugar, but profit selling towards the end of the day wiped out gains partially.

The Sensex closed 74.41 points up at 11,895.98, surpassing the previous record close of 11,821.57 on April 18.

Though it was at one time within calling distance of the 12,000-mark, when it traded at 11,986 at midday.

Similarly, the National Stock Exchange index Nifty zoomed to a record intra-day high of 3570.50 before closing at a record high of 3535.85, gaining 17.75 points. — PTI

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