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Sensex dips 271.48 points after hitting a record high
By siliconindia
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Friday, 14 December 2007, 20:30 IST
Mumbai: The Bombay Stock Exchange (BSE) Sensex plunged 271.48 points after hitting a record high, near the 20,500 levels, today to 20104.39 on high profit bookings and high volatility in the late trade.
Sensex and Nifty resumed firm in the early trade and after hitting a record intra-day high, ended in the negative zone. During the mid morning session the market landed in the red and failed to recover till late trade following a sudden sell-off in blue-chip stocks on global cues, said the traders.
The benchmark Sensex resumed 122.24 points up at a lifetime high of 20498.11 in the early trade, following the previous day's gain. It hit a low of 20065.63 in late trade by shedding 310.24 points.
Meanwhile, National Stock Exchange's (NSE) Nifty index shed 101.20 points, or 1.64 percent, to close at 6058.10 from its previous close of 6159.30 points. It hit a record intra-day high of 6185.40 and a low of 6040.40 during the day trade.
FMCG and metal stocks rose, while IT, power, oil & gas, capital goods and banking stocks declined. ITC and Tata Steel were top gainers, while Bharti Airtel and ICICI Bank were major losers from Sensex pack.
Reliance Industries declined sharply in the late trade. Asian markets were lower and European markets opened negative today.
The U.S. markets had ended lower yesterday. Twenty-one out of 30 stocks from the Sensex pack declined today.
BSE Mid Cap index rose 0.39 percent to 9375.34. It hit an all time high of 9460.50 today. The BSE Small Cap index rose 1.03 percent to 12007.33, and hit an all time high of 12138.34 today. Both these indices outperformed Sensex.