Profit selling pulls Sensex down 165 pts

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Agencies

Posted online: Thursday , July 24, 2008 at 04:37:37

Mkts spooked by B’lore blasts; shed 502 ...

Mumbai, July 24: Snapping its five-day rally, the Bombay Stock Exchange benchmark Sensex on Thursday shed over 165 points on profit selling at metal, capital goods and IT counters.

The 30-share BSE barometer, which commenced the day higher by 188 points, pared the early gains to settle at 14,777.01 points, a loss of 165.27 points from last close.

The index touched a high of 15,130.09 and a low of 14,608.05, indicating volatility.

The wide-based National Stock Exchange index Nifty also fell by 43.25 points at 4,433.55. It recorded a loss of 153 points during the day as it rose to a high of 4539.45 and a low of 4385.85 points.

According to brokers, Market players were also reducing their holdings ahead of the inflationary data to be announce after the trading-hours on Thursday.

Metal index suffered the most by falling 374.27 points at 12,696.25 as metal prices in the London Metal Exchange fell on firming dollar. It was followed by capital goods sector index by 220.61 points at 12,119.16.

Banking shares also fell on concerns over more hike in some key interest rates by Reserve Bank in its monetary policy on July 29.

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