The Hindu : Sensex drops further

Online edition of India's National Newspaper
Thursday, Nov 20, 2003

Business

Business

Sensex drops further

MUMBAI NOV. 19. Stocks dropped further and pushed the Sensex down by another 67 points at close on the Stock Exchange, Mumbai, here today on sustained selling by operators as also absence of any worthwhile buying by institutional investors.The BSE benchmark 30-share index opened sharply lower at 4868.43 and gradually moved downwards to the intra-day low of 4800 before ending at 4823.73 against yesterday's close of 4891.13, netting a fall of 67.40 points or 1.38 per cent. The broad-based BSE-100 index dipped by 39.90 points to 2488.07.

Reacting negatively to foreign institutional investors net sales position on Monday, investors continued to reduce their exposure in the prevailing weak trend, brokers said and added that they seemed to be taking precautions due to approaching year end when FIIs generally turn sellers in a bid to book profits.

The FIIs who made record investments in the current year with their monthly net purchases breaking previous peaks, were net sellers to the tune of Rs. 20 crores after slowing down their activity last week. Sentiment was also affected by weak trend on Wall Street yesterday.

The Dow Jones Industrial Average ended down 87 points and the Nasdaq Composite Index dipped by about 28 points. Key counters such as RIL, HLL and HPCLrecorded sharp falls.

PTI

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section

Hero Motors joins hands with Aprilia

Euphoria over IT offshoring premature?

New strategic facilities at Millipore India

Financial consultants for airport modernisation shortly

Sensex drops further

Rupee little changed

Sami Labs launches Sri Lanka operations

MBD group's plans

No comfort level for rupee — Y. V. Reddy

Stock Market Index

Bullion rates

Exchange rates