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Sensex loses 120 points

MUMBAI: After achieving a new closing level peak on Wednesday, a downward trend prevailed in the Bombay Stock Exchange with benchmark Sensex ending lower by nearly 120 points amid weak global cues and profit-booking by retail investors.

The 30-share index settled at 20,345.20 on Friday, down by 120.10 points from Thursday’s level of 20,465.30. The index touched the day’s high of 20,519.70 and low of 20,293.87.

However, the National Stock Exchange index, Nifty, finished stable at 6,178.55 against 6,179.40. Blue-chip stocks such as Grasim, ICICI Bank, Wipro, ITC and TCS , which lost in the range of 2-4 per cent, led the downfall. IT, Consumer durables and bank stocks were the major counters that took a hit.

After losing initially, the rupee closed four paise higher at 39.39/40 on Thursday against the greenback on the back of heavy dollar selling by exporters amid the softening of the U.S. currency overseas.

It moved in a wide range of 39.37 and 39.4750 a dollar. It closed at 39.43/44 on Wednesday. — PTI

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