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Profit sales plunge Sensex down 99 points to 4617

The Sensex of the Bombay Stock Exchange went into a tail-spin today and plunged by 99 points on profit-taking in key scrips, notably those belonging to the infotech and pharma sectors.

The BSE-30 Sensitive Index ended 98.99 points lower or 2.09 per cent at 4617.82 points as compared to the previous close of 4716.81 points. Opening at 4703.33, the Sensex witnessed a high of 4721.78 and a low of 4586.26. The Sensex, which surpassed yesterday's closing level during the day, plummeted on account of profit-taking in key scrips.

Foreign institutional investors off-loaded subsstantial quantity of infotech, pharma, cement and diversified companies' stocks, marketmen informed. Infotech and pharma scrips, which had led yesterday's rally, were on the downward mode.

Infosys Technologies, which reached its 52-week high of 5,518 in the last trading session plummeted by Rs 450 to close at Rs 5,065. The company's ADR listed on the NASDAQ Stock Exchange of the United States fell from a high of $ 118 registered yesterday to $ 90.

''Much of today's fall was fuelled by speculative selling pressure from FIIs. There was also some selling in index scrips by domestic financial institutions,'' said a broker. FIIs sold in Infosys, Pentafour Software, Satyam Computers, ITC and Hindalco counters.

They reportedly bought the Glaxo scrip. Among the FIs, the Unit Trust of India was a major seller in select scrips.

Mirroring the downtrend, the BSE-100 index fell by 41.84 points to end at Rs 2002.60 from the last close of Rs 2044.44. The BSE-200 and Dollex indices ended 9.71 and 3.66 points lower at Rs 457.92 and Rs 176.48 respectively.

Meanwhile, the National Stock Exchange ended 2.59 per cent lower at 1314.70 points, showing a net loss of 34.90 points. Marketmen informed that there was major shifting of positions from the NSE to the BSE, which was one of the reasons for the fall today.

Pentafour lost Rs 83 to close at Rs 1,192, Satyam at Rs 1,398, down Rs 90, Ranbaxy at Rs 802, down Rs 14 and Zee Telefilms at Rs 1,900, up Rs 20.

UNI

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