Business   

Sensex dips 77 points

MUMBAI: The Sensex on Wednesday dipped by 77 points as stocks came under heavy pressure triggered by a meltdown in global indices after demerged Reliance Industries commanded higher discovered base price in a special trading session this morning.

RIL, which closed higher at Rs. 713.95 than the expected level of Rs. 700 in the scrip's price discovery session, later succumbed to heavy selling in normal trading. It, however, broke its overnight record and clocked highest ever turnover of Rs. 2,257.21 crore in today's special and normal trading on the BSE.

In high volatility, the Bombay Stock Exchange benchmark 30-share index fluctuated between 9,302.78 and 9,158.44 before closing at 9,237.53 against 9,314.13, a net fall of 76.60 points.

The broadbased BSE-100 index dropped further by 36.56 points to 4,900.94.

A slowdown in FII inflows coupled with a plunge in Asian markets created panic among investors, brokers said.

Foreign institutional investors, which were net sellers in last week, reported negative activity on Monday.

Reliance, ONGC, SBI, ICICI Bank, Tata Motor, HDFC, HDFC Bank, Grasim, Infosys Tech, L&T, Maruti Udyog and Satyam Computer recorded sharp losses due to selling pressure.

Reliance closed sharply down from the discovered base price. — PTI

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

Stories in this Section

Reliance unlocks shareholder value
Dutch PM visits Infosys
Wipro Q3 net profit at Rs. 543 cr.
Centre clarifies FDI policy on construction sector
Biocon Q3 net dips
GM launches three new cars
CIL plans subsidiary for overseas ventures
SBICAPS partners CLSA
ASEAN FTA by mid-2006
Rupee at 12-day closing low
Sensex dips 77 points
Bullion rates
Exchange rates
SEBI advice to brokers
`Fixed wireless service is mobile'
Input-output norms notified
Starcom to foray into Sri Lanka
Ventech Solutions to invest Rs. 40 crore
Sutlej Q3 profit up 31 p.c.
Wavecom partners Infosys
Gokaldas Images concludes equity deal
SemIndia to set up ATMP plant

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu