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Sensex snaps four-day gaining streak

MUMBAI: The Bombay Stock Exchange sensitive index (Sensex) snapped a four-day strong winning streak and closed 22 points lower in volatile trading as traders squared positions amid fears on overheating in the economy with sustained inflation pressures.

Taking a cue from almost flat Asian markets, traders and retailers preferred to take profits at the higher levels at the weekend, considering the uncertain global trend.

The BSE 30-share sensitive index hovered between 13386.95 and 13196.90 before closing at 13285.93, a net fall of 22.10 from Thursday's close of 13308.03.

The Sensex had gained 878 points or seven per cent in a sustained rally during the last four days on the back of heavy foreign institutional investment inflows in derivatives.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) eased by 14.85 points to close at 3861.05.

Foreign institutional investors (FIIs) pumped in over Rs. 2,177 crore in the futures and options segment on March 22, taking the total inflows in the last four days to Rs. 4,658 crore. . — PTI

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