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Our Bureau

Mumbai, Sept. 20 The BSE sensitive index Sensex closed at a record high for the second consecutive day, closing at 16347.95 on Thursday.

The rise was a continuation of Wednesday’s rally, but was a modest 0.15 per cent, against the previous day’s dramatic rise of 4.17 per cent.

There was some profit-booking in the markets. Also, the rupee which appreciated further from Wednesday, breached the 40-level against the dollar, driving down IT stocks.

“There was some profit-booking in the markets today. Although IT stocks were down, the Sensex was pulled up by power majors such as Reliance Energy, Tata Power, which gained. ITC also gained,” said Mr Harendra Kumar, Head-Research, ICICI.

Eighteen of the 30 Sensex stocks declined while 12 advanced.

Although the overall market breadth was negative with 1,589 declines against 1,212 advances, the overall sentiment remained positive as Asian markets hit an all time high after the US Fed rate cut on Tuesday, said brokers.

The broader-based S&P CNX Nifty rose by 0.32 per cent, closing at 4,747.55.

The day’s trading was characterised by a decline in IT and banking stocks. (On Wednesday, banking stocks had been among the top gainers, the Bankex having risen 4.84 per cent).

The BSE IT Index dipped by 2.24 per cent. The BSE Bankex declined by 0.03 per cent and BSE TecK by 1.10 per cent.

The Realty index was again the highest gainer, going up by 6.85 per cent to 9213.42, reaching a new 52-week high. Realty major DLF went up by 5.13 per cent.

The top gainers on BSE were Reliance Energy, Mahindra & Mahindra and ITC, which gained by 4.40 per cent, 3.93 per cent, and 3.77 per cent respectively. Engineering major Larsen & Toubro was up by 2.87 per cent.

The top losers were Wipro which dipped 3.27 per cent, Infosys (2.89 per cent), TCS (2.12 per cent) and Satyam (1.91 per cent).Mutual funds showed substantial buying interest, according to brokers. FIIs were net buyers to the tune of Rs 2,484.50 crore, according to SEBI data.

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