Sensex plunges below 14K in pre-budget selling

Updated at 4.25pm

MUMBAI: The BSE Sensex dipped below 14,000-point level in intra-day trading on Thursday on heavy selling by funds in auto, sugar and banking stocks but later recovered marginally to close the day at 14,021.31 points.

The Sensex, which had touched 13,865.36 on February 14, hit a low of 13,978.05 and ended at 14,021.31 points, a loss of 167.68 points.

In similar fashion, the wide-based National Stock Exchange Nifty index touched a low of 4,023.15 points before closing at 4,040 points, a fall of 56.20 points.

Selling pressure gathered momentum as foreign funds re-shuffled their investment portfolios from one segment to another ahead of the union budget.

Market observers said investors were seen settling their positions following end of February contract in the future and option segment.