Date:14/12/2007 URL: http://www.thehindu.com/2007/12/14/stories/2007121456271800.htm

Business

Sensex loses 271 points

MUMBAI: The benchmark Sensex, after touching its all-time high at the onset of business, reacted and ended the day lower by a big margin of 271.48 points on profit selling, triggered by sluggish Asian cues.

Market breadth continued to be strong and selling was confined to select bluechip counters as foreign institutional investors were believed to be booking profits at higher levels due to redemption pressure before the long year-end holidays, brokers said. Asian markets ended distinctly weak on Thursday and European indices also showed bearish trend at opening, further affecting the sentiment, they added. The BSE 30-share Sensex opened at a new peak of 20498.11 but later turned volatile and ended the day at 20104.39.

Rupee eases

The rupee weakened on Thursday by two paise to close at 39.3950/4050 against the U.S. currency on some dollar buying by banks and sluggish equity markets. In quiet trade at the interbank foreign exchange market, the rupee opened firm at 39.35/36 a dollar from its last close of 39.3750/3850. — PTI