The Hindu : Business : Sensex sheds 71 points

Online edition of India's National Newspaper
Tuesday, Jan 30, 2007
ePaper


<SCRIPT language='JavaScript1.1' SRC="http://ad.doubleclick.net/adj/N4322.hinduonline/B2155503.3;abr=!ie;sz=468x60;ord=[timestamp]?"> </SCRIPT> <NOSCRIPT> <A HREF="http://ad.doubleclick.net/jump/N4322.hinduonline/B2155503.3;abr=!ie4;abr=!ie5;sz=468x60;ord=[timestamp]?"> <IMG SRC="http://ad.doubleclick.net/ad/N4322.hinduonline/B2155503.3;abr=!ie4;abr=!ie5;sz=468x60;ord=[timestamp]?" BORDER=0 WIDTH=468 HEIGHT=60 ALT="Click Here"></A> </NOSCRIPT>

Business

Business

Sensex sheds 71 points

MUMBAI: The Bombay Stock Exchange benchmark Sensex on Monday shed 71 points as cautious investors took profits with the earnings season approaching its last leg and the expectation of the Reserve Bank of India increasing the interest rates in its credit policy review on January 31.

Metal shares, however, extended the rally scoring smart gains following outstanding performance by Steel Authority of India (SAIL) in the third quarter of this fiscal.

Initially, the key BSE index scaled a new trading peak of 14316.54 but later met with resistance and closed the day at 14211.96, a net fall of 70.76 points from the previous close of 14282.72.

The National Stock Exchange's (NSE) S&P CNX Nifty lost 23.25 points to close at 4124.45.

Although SAIL released excellent results with a 124 per cent growth in net profit, the market's response to corporate India's record-breaking performance in the third quarter ended December 2006 was cautious due largely to market holiday on January 30, brokers said. The central bank is also likely to increase interest rates in its credit policy review on January 31, they said. — PTI

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

Business