Profit taking trims gains on BSE

MUMBAI, OCT. 12. Late profit-booking by retail investors and domestic institutions trimmed the gains in equities and the Sensex closed in the positive territory on the Bombay Stock Exchange today.

Major support to the Sensex came from the IT heavyweight Infosys which rallied smartly on fresh purchases by foreign institutional investors (FIIs).

FIIs were net buyers to the tune of Rs. 132 crores on October 10 and have stepped up investments in view of sustained uptrend in ADRs of Indian companies on the Wall Street.

In New York, tech-laden Nasdaq composite index was up by 75.21 points last night and have rebounded to its pre-September 11 levels. The Dow Jones Industrial Average also spurted by 169.59 points.

The BSE-30 share sensitive index opened firm at 2960.50 and rallied smartly to a high of 2989.63. But profit selling in the last session trimmed part of early gains and the Sensex closed at 2959.39 as against yesterday's close of 2943.69, a small gain of 0.53 per cent. The BSE-100 index improved further by 5.41 points to 1358.39 from the previous close of 1352.98.

Domestic mutual funds, which were net buyers in the past few days, reportedly turned sellers in key stocks such as Hindustan Lever, ITC, HPCL, Hindalco and few others. NIIT was locked in the ten per cent upper price band for the third successive day on consistent buying.

In the specified group, 91 including 18 index-based stocks registered gains while 80 others closed with losses.

The BSE-200 index and the dollex-200 were quoted moderately up at 298.64 and 103.50 from 297.46 And 103.11 respectively. The BSE- 500 index edged up by 3.40 points to 878.54 from 875.14 previously. The dollex-30 moved up to 505.76 from 503.18.

- PTI

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Section  : Business
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