Sensex down 28 points on profit selling

MUMBAI, NOV. 29. The benchmark failed to breach the 4046- resistance level as equities reacted downwards on profit selling in the absence of follow-up support from foreign institutional investors on the Bombay Stock Exchange today.

At the final count, the BSE-30 share sensitive index broke the three-day string of profit and concluded at 3996.18 against yesterday's close of 4023.92, a loss of 27.74 points or 0.69 per cent.

Select old economy counters, which were mainly responsible for Sensex rally at initial stages, wiped out early gains, pushing down the Sensex below 4000-level.

Index heavyweights ITC and Hindustan Lever bucked the general trend and notched handsome gains on institutional buying cushioning the Sensex fall to the minimum level.

Majority of infotech, communication and entertainment (ICE) shares continued their downward march following a meltdown in the Nasdaq stock market where the composite index dipped by over 145 points yesterday and weak Southeast Asian markets at close today.

The BSE sensitive index opened lower at 3997.33 and touched a high of 4046.19. Later it dipped to the day's low of 3957.19 on profit taking.

- PTI

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