Business   

Sensex snaps 7-day gaining streak

MUMBAI: After facing profit sales for the second successive day, the Bombay Stock Exchange benchmark, Sensex, on Friday closed 12 points lower in volatile trading amid sustained foreign institutional investment inflows.

The Sensex snapped its seven-day long gaining streak, during which it had risen by 664.84 points or 6.15 per cent. The 30-share sensitive index (Sensex) rallied to the day's high of 11508.17 at the outset, buoyed by firm Asian advices. It, however, came under pressure during the day and closed at 11465.72 against Thursday's close of 11477.48, a net fall of 11.76 points.

On the National Stock Exchange, the S&P CNX Nifty closed in the positive territory, recovering by 2.85 points to 3356.75. Foreign institutional investors and retailers were believed to be sellers in high-priced frontline counters.

Attributing reversal in the trend to negative FII activity in the Futures for second consecutive day, brokers said FIIs reported net sales of Rs. 308.41 crore on August 17 in the derivative segment.

A sharp fall in the top heavyweight RIL weighed down the Sensex even as the BSE metal index suffered a sharp setback toeing the line of the trend on metal prices abroad. The mid-cap and small-cap stocks attracted some support from investors.

The BSE metal index dropped by 119.59 points or 1.46 per cent to 8080.03. The market breadth, however, was narrowly positive as 1,279 scrips registered gains while 1,221 showed losses of the total 2,563 traded shares.— PTI

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

Stories in this Section

Russia threatens U.S. with trade war
Stone laid for TAPP's facility
Sensex snaps 7-day gaining streak
Qualcomm acquires Qualphone for $18 m
State Bank hikes deposit rates
Essar to revamp businesses
PepsiCo ready for independent testing of pesticide residue
M&M launches Scorpio range in Sri Lanka
SIB launches products for NRIs, returnees
Kerala can attract major investments: Worbus Capital
Rupee ends lower
Exchange rates
Bullion rates
Inflation rate rises to 4.82 p.c.
Roongta is SAIL Chairman
'Excise exemption only for HP, Uttaranchal'
Govt. modifies 3CD tax form
China to cut tarrifs
Airtel Broadband introduces India PCO
Merck Specialities launches cancer drug
Hero Honda bags award
TV 18 promoter sells shares to Network 18
Balrampur Chini to acquire stake in Indo Gulf Ind.
Enam to venture into insurance broking

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu