Breaking a three-day winning streak, the market edged lower today on profit taking. The market failed to sustain higher levels after a firm start. A firm opening was triggered by Reliance Power's surprise announcement on Sunday, 17 February 2008, that it would consider bonus issue. The market was down sharply in afternoon trade but managed to cut losses tracking firm European markets, which opened after Indian markets. The benchmark index, BSE Sensex, dipped below 18,000 mark only to regain that level in mid-afternoon trade.
Reliance Power soared on high volumes. Despite the market fall, the breadth was positive on buying in small-cap and mid-cap stocks. Asian markets were mixed.
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