The Hindu : Business : Sensex sheds 172 points on profit booking

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Wednesday, Nov 29, 2006
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Sensex sheds 172 points on profit booking

MUMBAI: The Bombay Stock Exchange Sensitive Index (Sensex) declined 172 points on Tuesday on the back of fresh selling spree and a sharp slide in global markets to end at 13601.95.

Operators and retail investors, who were expecting a further rally in futures and options segment, rushed to sell part of their holdings to book profits ahead of the expiry of derivatives contract on November 30, dealers said.

The BSE 30-share sensitive index, which closed at a new peak on Monday, opened sharply lower at 13690.67 and later tumbled further to below 13600-mark at 13,577.38. Later, it concluded at 13,601.95, a net fall of 1.25 per cent, from 13773.59 on Monday and the biggest point-wise fall since September 11.

On National Stock Exchange, the S&P CNX Nifty also dived down by 47.15 points or 1.19 per cent to close at 3921.75 from the previous close of 3968.90.

The entry of world's largest retailer, Wal-Mart Stores, was well greeted by local investors on Monday, sending the indices to dizzy heights. But below-expected sales forecast for the month, sent the U.S. stock markets tumbling overnight.

The market breadth was negative with 1462 shares gaining against 1093 losing of the total 2,637 traded scrips.

PTI

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