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Profit-booking, squaring-up send Sensex into tailspin; down 85 points to 3597.58

Squaring-up of long positions built by operators during the week coupled with profit-booking through offloading of some key scrips on the last day of the current trading cycle led the Sensex of the Bombay Stock Exchange into a tailspin today.

The Sensex experienced an intra-day fall of around 128 points, but ended with a net loss of 85.11 points at 3597.58. The previous close was 3682.69.

Opening at 3635.67, the Sensex witnessed an intra-day high and low of 3642.42 and 3554.38 respectively.

Marketmen informed that operators sold in Reliance, Tisco and some infotech counters. The Unit Trust of India, meanwhile, bought Satyam Computers, Pentafour Software and ITC.

According to brokers, today's fall is a technical correction as marketmen are booking profits at higher levels.

The BSE-100 index ended 33.95 points at 1585.90 from the previous close of 1619.85.

The BSE-200 index ended at 365.52, 8.40 points higher than the last close of 373.92.

The Dollex index ended at 143.53, 3.30 points more than the last close of 146.83.

The total turnover on the BSE's BOLT Network was Rs 18.32 billion from trading in 72.2 million shares. The number of trades were 2,06,520.

Pentafour Software topped the turnover list with Rs 3.47 billion, followed by Satyam Computers (Rs 2.01 billion), ITC (Rs 1.36 billion), Tata Tea (Rs 1.17 billion) and Reliance (Rs 614.1 million).

Others that recorded a high turnover were SBI, Infosys Technologies, Zee Telefilms, Ranbaxy, MTNL, Bajaj Auto, Telco, BPL, L&T and BHEL. UNI

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