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Wide fluctuations in share prices


MUMBAI: In highly volatile trading, the Bombay Stock Exchange benchmark Sensex made a smart recovery from the early sharp losses on good low-level buying but only to close 21.31 points lower at 10129.70 as select bluechip counters fell towards the end on fresh selling.

The market witnessed a wide fluctuation as the 30-share sensitive index (Sensex) opened weak at 10067.55 and after swinging erratically between 10204.66 and 9909.76, closed at 10129.70 against 10151.01.

The early setback in prices was due to frantic selling following global meltdown on fears that the U.S. Federal Reserve would raise the interest rates.

Later, a smart rise in index-heavyweights such as Reliance Industries, Bajaj Auto, BHEL and TCS, helped the index regain part of the early losses.

The volatility was also attributed to the approaching end of account for derivatives contract on June 29, brokers said.

Meanwhile, on the National Stock Exchange, the S&P CNX Nifty, after moving between 3003.65 and 2909.60, closed 1.35 points lower at 2981.10. — PTI

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