The Hindu : Business : Sensex sheds 208 points

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Tuesday, Jan 09, 2007
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Sensex sheds 208 points

MUMBAI: Stock markets turned jittery ahead of the earnings season and plunged by 208 points on Monday as investors pressed heavy sales, particularly in front-line stocks on weak Asian cues and a slowdown in foreign institutional investment inflows.

The Sensex opened marginally lower at 13855.89 and later fell sharply to intra-day low of 13599.87 before ending the day at 13652.15, a net fall of 208.37 points or 1.5 per cent from Friday's close of 13860.52.

The broad-based S&P CNX Nifty dropped by 50 points or 1.26 per cent to close at 3933.40 against 3983.40. Operators and retail investors opted to book profits at the current market levels as the countdown began for the third quarter corporate results, brokers said.

The market leader Infosys Technologies is scheduled to announce Q3 earnings on January 11. The market sentiment was also adversely affected by a sharp slide in Asian bourses. Nikkei ended lower by 262 points, Hang Seng by 181.62 points, South Korea's Kospi by 14.95 points and Singapore's Straits Times by 29 points. — PTI

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