Stocks react afresh on profit selling

MUMBAI, NOV. 23. Equities reacted afresh on the Bombay Stock Exchange today following profit-taking and stale bull liquidation which pushed the Sensex down by 5.93 points to close at 3252.20, despite a relatively firm start.

Resuming on a promising note with the new economy counters attracting sustained buying by foreign institutional investors, who reportedly bought shares worth Rs. 280 crores in the last four trading sessions, shares later met with strong resistance, dealers said.

Selling, particularly in old economy scrips, in the form of profit-booking, erased early gains and forced the Sensex to land in the negative terrain. However, select second line software shares rallied and notched handsome gains on speculative-cum- investment buying, but it failed to arrest the Sensex fall, they added.

Software bellwether and index heavyweight, Infosys Technologies, recovered sharply to partially mitigate the Sensex losses.

The BSE-30 share sensitive index opened slightly better at 3263.06 and immediately touched a high of 3301.34. However, higher levels attracted selling and it dropped to a low of 3245.58 before closing at 3252.20.

- PTI

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Section  : Business
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