Sensex hits new high intra-day, closes lower

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Our Bureau

Mumbai, Aug. 12

THE stock markets paused for a breather on Friday as several counters witnessed profit booking. Though the Sensex breached a new high of 7861.26 intra-day, it ended trade with a loss of 49.02 points at 7767.49.

The Nifty traded in the red all day, closing with a loss of 19.35 points at 2361.55.

Weakness in the markets was led by selling by foreign institutional investors. After over a month of positive net inflows, FIIs turned net sellers on Thursday, albeit by a marginal sum of Rs 20 lakh.

Volumes were below average on Friday. BSE reported turnover of 55.61 crore shares at Rs 4,166.66 crore. On the NSE, 66.48 crore shares worth Rs 7,838 crore changed hands.

Sectors such as banking, IT and capital goods witnessed profit booking on Friday. Punjab National Bank and Indian Overseas Bank ended lower by 2.09 per cent at Rs 415.45 and Rs 82.15, respectively. The BSE's technology index shed 1.22 per cent on Friday as heavyweights Infosys and Satyam closed in the red. i-flex, which was a big gainer during trade this week, also succumbed to profit booking. The scrip shed Rs 7.10 to close at Rs 1,015.70.

(This article was published in the Business Line print edition dated August 13, 2005)
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