The Hindu Business Line : Sensex sheds 64 points on lack of buying support

The BSE Sensex again breached the 9,000-point mark in early trade on Tuesday recording a high of 9000.65 points. BSE's key index had crossed the much-expected 9,000-point market for the first time in Monday's trade mainly on foreign institutional investor buying.

Of the 30 index stocks, 22 shares declined, while eight gained. BHEL, which had gained strongly on Monday, fell by Rs 44.60 or 3.04 per cent to Rs 1423.15.

"It was more a case of lack of buying today. Anyway profit-booking is healthy for the market,'' said a mutual fund official. He said there was no specific reason for the fall. Periodic corrections augur well for a market and they would prevent any long-term problem, he said.

The S&P CNX Nifty edged down by 13.7 points to 2698.30.

Foreign investors have been the main buyers on the domestic equity market, driving stock prices and indices to their record highs. FII investment on domestic bourses stood at $845.80 million until November 29, SEBI said. In 2005, the FIIs invested $8597.70 million.

Stocks that bucked today's decline were Ranbaxy and Reliance Energy. Ranbaxy moved up by Rs 8.45 to Rs 388.50 and Reliance Energy gained Rs 11.90 at Rs 588.70.

All indices on BSE moved down. On NSE, most indices barring CNX IT fell. CNX IT rose by 2.85 points to 3620.55 points.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

More Stories on : Stock Markets | Stocks

Stories in this Section
`Cyclone Baaz' headed for landfall on TN-AP coasts

It is time for ads to board A-I Express...

Sensex sheds 64 points on lack of buying support

FIIs on selling spree in debt market

Dubai Ports nets Indian box terminals thru P&O buy

Cable TV rates may go up 4 pc from Jan

Farm it out, PM tells pvt sector — `Major steps taken for single integrated market'

Policy on spectrum allocation early next year — Govt wants new players for 3G services

Govt spending on IT below target: Maran