Mumbai: Late profit-booking pared initial gains in blue-chip counters even as the Sensex today (July 19, 2004) notched up a gain of 24 points extending its winning streak to third consecutive session at the Bombay Stock Exchange (BSE).

The BSE Benchmark 30-share Index which had risen past the 5000-mark in relatively slow movements, later fell back to the intra-day low of 4942.43 due to selling pressure in the last 30 minutes of the session, before closing at 4975.40 as against last Friday's close of 4951.17, a net rise of 24.23 points or 0.49 per cent.

Operators, day-traders and arbitrageurs who were eagerly awaiting the announcement of transaction tax rate during the day, booked profits at the fag end after indications of delay in decision on the tax rate.

The Government said in Rajya Sabha this afternoon that it would "revisit" the numbers on 0.15 per cent transaction tax on all securities proposed in the Union Budget ruling out total withdrawal of the measure.

Brokers said investors did not seemed to be interested in holding long positions unless they knew about the decision of the Government on the turnover tax.

Foreign Institutional Investors (FIIs), which reportedly made moderate purchases during the first half of the session, also booked profits at the fag end.

Key counters like Tisco, Zee Telefilms, ONGC, Grasim, Dr Reddy's Lab, Cipla, GACL, ICICI Bank and some others scored handsome gains on buying support.

However, Tata Motors, ITC, HLL, Hero Honda, Hindalco and HDFC Bank finished with moderate losses.