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Sensex in negative territory
for sixth consecutive day
Mumbai--Unabated selling from domestic mutual funds
coupled with profit-booking from FIIs wiped out initial gains made when the market opened
on a firm note.
Operators were thus forced to unwind their positions but surprising the benchmark Sensex
lost marginally by 3 points while S&P CNX Nifty gained by a miniscule 0.10 points.
The markets closed in the negative zone for the sixth consecutive day.
To begin with the markets opened on a higher note as Nasdaq and Dow closed higher by about
78 points and 115 points respectively in the US.
The Sensex opened at 3473.32 and rallied mildly to cross the 3500-level to the intra-day
high of 3507.24.
It retracted later though due to resistance and closed at 3457.31, netting a small loss of
2.73 points. Nifty on the other hand gained marginally by 0.10 points to close at 1115.70.
With the buoyancy in the US markets, Indian ADRs were firm with Infosys moving up by $6
helping the sentiments at the domestic markets to change to neutral from bearish, said a
leading fund manager.
FIIs activity was restricted to IT counters like Infosys Technologies, Hughes Software,
Pentamedia Graphics and Satyam Computer.
Sources said Unit Trust of India had sold shares of RIL at the prevailing market rates.
The volume was sharply down at Rs 1,017.83 crore on Wednesday compared to previous
turnover of Rs 1,45.
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