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Sensex down 60 points
MUMBAI:
The Sensex suffered another sharp setback on Thursday after a promising start and ended 60 points down, dragged by fresh selling from Indian financial institutions as well as operators amid sustained purchases by foreign institutional investors. The market seemed to be adjusting to a further downward correction after hitting dizzy peaks. The BSE benchmark 30-share index opened moderately higher at 7262.86 but later met with resistance and dropped sharply as operators too availed the opportunity to book profits. The Sensex ended the day at 7187.70 against Wednesday's close of 7247.91, a net fall of 60 points. Information and technology and banking shares bore the brunt of selling, as a result the Bankex and the BSE IT Index fell substantially. FIIs were believed to have absorbed sales made by local funds in select key counters. FIIs reported net purchases of Rs. 377 crore on Tuesday, taking the total net investments to Rs. 839.50 crore in the first two sessions of the week. — PTI
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