Sensex reclines from higher level to close at 10,923.16

Mumbai, Aug 3: The BSE Sensex reversed back from the day's high of 11,081.90 in the last half-an-hour of the day's trading to close 47 points up from yesterday's close at 10,923.16.

This was mostly on account of profit-booking as the investors sensed an opportunity to make profits on higher margins.

Experts are of the opinion that the Bombay Stock Exchange (BSE) Sensitive Index (Sensex), between the level of 11,200 and 11,400, is an opportunity for the investors to make profits, hence, the next rally will look for corrections once that level is achieved.

Earlier, the Sensex opened 54 points in the green at 10,929.03 and oscillated to touch a high of 11,081.90 and a low of 10,875.87 points, a swing of 107 points.

Major indices on the BSE trade in the green for most part of the day. However, the decline in FMCG, PSU, metals and oil and gas sectors led the Sensex to turn bearish.

FMCG declined by 0.94 per cent to 1,886.93 points, PSU declined by 0.32 per cent to 5,125.68 points and metals was down by 0.31 per cent to 7,853.75 points. Among those which closed in the green were - Midcap, up by 0.83 per cent to 4,373.97 and Smallcap was up by 1.17 per cent to 5,238.55 points.

Major gainers on the index today were- Ranbaxy, up 3.87 per cent to Rs 391.95, HDFC p by 2.92 per cent to Rs 1,226.70, HDFC Bank was up by 1.86 per cent to Rs 794.00, Grasim Industries was up by 1.79 per cent to Rs 2,116.40, Reliance Communications was up by 1.73 per cent to Rs 271.10, Bajaj Auto was up by 1.48 per cent to Rs 1.48 per cent to Rs 2,581.00, Tata Motors was up by 1.43 per cent to Rs 769.10, ICICI Bank was up by 1.42 per cent to Rs 555.75, Bharti Airtel was up by 1.37 per cent to Rs 398.80 and Maruti Udyog was up by 1.70 per cent to Rs 789.00.

The losers were - BHEL, down by 1.60 per cent to Rs 2,118.75, HLL down by 1.43 per cent to Rs 224.80, ITC down by 1.04 per cent to Rs 171.50, Reliance Energy was down by 0.76 to Rs 454.55 and Dr Reddy's Lab was down by 0.75 per cent to Rs 1,407.95.

The breadth in the broader market was in the favour of 1,527 advances as against 937 declines and 77 unchanged, out of total 2,541 scrips that traded on the BSE.

UNI

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