Sensex drops marginally, snaps 4-day long rally

MUMBAI: The benchmark Sensex ended lower by 18 points on Thursday with a decline in blue-chip stocks led by the technology segment, snapping the four-day long rally.

The Sensex, which had been on an upward march, lost 18.35 points at 14,861.89, after touching an all-time intra-day peak at 14,963.26 with most of IT and tech stocks attracting profit selling at existing higher levels.

Similarly, the wide-based National Stock Exchange index Nifty lost 5.35 points at 4353.95, after setting an intra-day new peak of 4378.55 points.

Although selling pressure was seen in infrastructure and refining stocks such as ACC, Grasim and Reliance Industries, it was more confined to IT and technology stocks.

The IT index fell by 49.65 points at 4,791.99 while Tech index by 29.10 points at 3725.11.
   
ACC Ltd led cement makers to a fall after some investors judged recent gains excessive and the impact was felt in newly listed stocks of DLF Ltd, which moved between Rs 583.95 and Rs 526.60, before winding up at Rs 569.80 against the offered price of Rs 525.