Profit-booking halts rush towards record

Written by Press Trust of India | Mumbai | Updated: Jul 4 2014, 14:13pm hrs
The benchmark Sensex on Thursday almost scaled the record 26,000 level, but profit-booking in oil&gas, metal and power shares dragged it down to log the first drop in five days even as trading on the BSE was disrupted for three hours due to network outage.

The S&P BSE Sensex closed at 25,823.75, down 17.46 points from Wednesday close, after hitting life-time high of 25,999.08. Trading was halted at BSE from 9.42 am for about three hours due to network outage. Weakness in shares of RIL, ONGC, Hero MotoCorp, Bajaj Auto, Maruti Suzuki, SBI and ICICI Bank weighed on the Sensex. Out of 30-share pack, 19 ended lower and 11 finished higher. Intra-day, the Sensex hit a low of 25,793.70.

The index had gained over 778 points in the previous four days on rising hopes of a growth-oriented Budget next week. The NSE 50-share Nifty moved down 10.35 points, or 0.13%, to finish at 7,714.80 after hitting an all-time high level of 7,754.65 in early trade.

Foreign portfolio investors bought shares worth a net R1,290.68 crore on Wednesday, as per provisional data. Asian stocks ended mixed before US jobs reports and a euro-area monetary-policy decision. Key benchmark indices in Hong Kong, South Korea, Hong Kong and Japan declined by 0.08-0.21%, while indices in China, Singapore and Taiwan moved up by 0.19-0.44%.