Mumbai: The Sensex added 1.72 per cent to its kitty during the week, even as a dramatic negative reaction substantially trimmed stocks gains due to profit booking in the concluding trading session as a result of margin calls in select heavyweights.

Heavy sell-off emerged in heavyweighted counters at the fag end of yesterday's (Dec 5, 2003) session after the National Stock Exchange (NSE) decided to impose special margins of 50 per cent above exposure margins payable by investors.

In the week under review, the Bombay Stock Exchange (BSE) benchmark 30-share index fluctuated widely in a range between 5,263.11 and 5,082.82 and breached the 44-month high when it ended at 5,186.08 on December 2. Later, it reacted sharply on the last day of the week and closed the week at 5,131.72 as against last weekend's close of 5,044.82, a net rise 86.90 points.

Operators who had built up long positions in blue-chip counters in the seven-day long bull run, reacted quickly to the margin calls and booked profits at higher levels despite host of positive factors including the BJP's clean sweep in the assembly elections in three States.

Sectors like FMCG, Capital Goods, Consumer Durables and Health Care attracted brisk activity as investors were shifted to relatively cheaper but fundamentally stronger stocks.

Retailers' participation was on the rise with consistent net purchases by retail domestic mutual funds.

Foreign Institutional Investors (FIIs) too have pumped in sizeable funds on the bourses. FIIs have made net investments of Rs 1,367 crore during the first four sessions of the week while local funds made net purchases of Rs 212 crore in the same period.

PTI