The Hindu : Sensex dives 93 points

Online edition of India's National Newspaper
Friday, Oct 24, 2003

Business

Business

Sensex dives 93 points

MUMBAI OCT. 23. The Sensex crashed by about 93 points in line with a sharp downslide in stocks in volatile trading activity on the Stock Exchange, Mumbai, today on sustained and heavy sell-off by domestic mutual funds as well as some hedge funds.fter initial feeble resistance that helped market rise to the day's high at 4755.94, the BSE benchmark 30-share index gradually moved downwards under constant selling pressure and ended at 4648.41 against yesterday's close of 4741.20, netting a sharp fall of 92.79 points or 1.96 per cent. In a four-session string of losses, the BSE barometer has fallen by over 282 points or 5.72 per cent.

Blue chip stocks such as RIL, SBI, BHEL, Grasim, BSES, Cipla, Dr. Reddy's Lab, Hero Honda, Hindalco, HLL, Infosys Technologies, ITC, L&T, MTNL, Ranbaxy, Satyam Computer, Tata Motors, Tisco and Zee Telefilms recorded huge losses.

Attributing fresh onslaught to continuous profit selling by a couple of private mutual funds that were believed to be under redemption pressure, market sources said indication of slowdown in FII activity ahead of expiry of November series

Muhurat trading

on Oct. 25

The Stock Exchange, Mumbai, and the National Stock Exchange will hold special Diwali Muhurat trading sessions for Samavat 2060 on October 25. At BSE, transactions done during Muhurat session from 6.10 p.m. to 7.25 p.m. and regular trading on October 27 would be merged and settled under the common settlement on October 29.

Meanwhile, on the NSE, the Mahurat trading in the capital market segment will take place between 6.10 p.m. and 8 p.m., while in the F&O (Forward and Option) segment, it will be from 6.10 p.m. to 7.55 p.m. — PTI

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