The Hindu : Business : Sensex sheds 371 points

Online edition of India's National Newspaper
Tuesday, Jun 27, 2006

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Business

Sensex sheds 371 points

MUMBAI: The Bombay Stock Exchange sensitive index (Sensex) snapped a four-day winning streak and capitulated 371 points to close at 10042.06, even as the Arcelor-Mittal deal failed to lend positive support to bourses across Asia.

The markets witnessed virtual collapse in the concluding one hour of trading due to across-the-board selling pressure from operators, who preferred to wind up positions in the derivatives on worries about rate hikes by the U.S. Federal Reserve.

Resuming on a promising note, the BSE 30-share sensitive index later reeled under pressure and touched the day's low of 9991.12 before closing at 10042.06 against Sunday's close of 10412.93, a net fall of 370.87 points or 3.56 per cent.

The Sensex had risen by a steep 590.41 points or 6.01 per cent in the last four days, including June 25 special trading session.

On the National Stock Exchange, the S&P CNX Nifty crashed by 107.10 points or 3.51 per cent to 2943.70.

Operators as also foreign institutional investors were believed to be aggressive sellers in the last one hour. — PTI

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