Monday, June 6 2005 16:43 Hrs (IST) - World Time -

Mumbai: Late profit selling by investors erased early gains amid firm crude oil prices and the Sensex today (Jun 6, 2005) ended five points up even as it breached the 6800-mark during trading for the first time in eleven weeks.

The BSE Benchmark 30-share Index spurted past 6800-level and touched the intra-day high of 6813.91 on the back of sustained FIIs inflows but later ran out of steam on selling pressure and ended the day at 6758.19 against last Saturday's close of 6753.00, a net gain of 5.19 points or 0.08 per cent.

The Sensex had surpassed the 6800-mark on March 16, 2005 during the trading.

Crediting the initial price rally to fairly good net investments by Foreign Institutional Investors (FIIs) during last week, brokers said operators resorted to profit booking in the last thirty minutes as institutional investors slowed down activity in the latter part of session.

FIIs reported net investments of over Rs 824 crore in equity in the first four days last week.

Reports about an imminent settlement between Ambani brothers also had sentimental impact on the market.

The broad contours of a settlement in the ownership battle between Mukesh Ambani and younger brother Anil are understood to have been worked out and expected to be formalised within the next six weeks.

PSU and Bank stocks were in keen demand on expectations of speedy banking reforms and of disinvestments in the public sector undertakings.

Jet Airways firmed up despite a legal row over a trade name with an American Company Jet Airways Inc.