Date:05/01/2007 URL: http://www.thehindu.com/2007/01/05/stories/2007010503221600.htm

Business

Sensex loses 143 points

MUMBAI: The BSE Sensex on Thursday reacted sharply downwards by 143 points and fell below the 14000-mark on fresh bouts of profit taking, washing out major part of gains recorded during the first two days of the New Year.

Domestic mutual funds, which were heavy buyers in the last two weeks and the key driver of the recent rally, preferred to take profits in select blue chips, indicating lack of follow-up buying support at higher levels that mainly dampened sentiment, dealers said.

Operators and retail investors also joined the selling spree and decided to play safe ahead of the announcement of third quarter corporate performance from next week.

The BSE 30-share index opened better at 14029.04 and immediately touched an all-time high of 14060.35. Later, emergence of profit taking pulled the Sensex down to 13871.71 from Wednesday's close of 14014.92, a steep fall of 143.21 points or 1.02 per cent.

PTI