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Sensex sheds 41 points on profit selling

MUMBAI: Buoyant global cues and a fresh fall in inflation number notwithstanding, the Bombay Stock Exchange (BSE) benchmark Sensex ended 41 points lower on Friday as profit-booking erased initial gains.

Heavy profit booking by investors in the concluding one hour of the session, however, pulled the Sensex to an intra-day low of 14112.53 before it closed the day at 14162.71.

The broad-based S&P CNX Nifty of the National Stock Exchange, however, ended flat at 4171.45 from the previous close of 4170.

Attributing profit taking ahead of the weekend, market players said operators and institutional investors preferred to take benefits of the higher price levels

Except Indian bourses, all Asian and European markets exhibited encouraging trend during the day.

After pulling out for the last few trading sessions, foreign institutional investors reported a meagre net purchase of Rs. 34.13 crore in cash on June 14.

The Sensex landed in negative terrain largely because of sharp losses in shares such as Reliance, HDFC, Grasim, Tata Steel, Bharti Airtel, Infosys and TCS and Satyam Computers.

The trading volume was relatively low at Rs. 4,228.81 crore against Rs. 4,426.51 crore on Thursday.

— PTI

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