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Sensex tumbles further

MUMBAI: In high volatility, the stock markets showed signs of further weakness on Tuesday with the benchmark Sensex tumbling by 114 points and IT counters continuing to be under heavy selling pressure, which later percolated to other sectors.

A sharp rise in the rupee in recent weeks remained the most bearish factor for these IT shares as it eroded their revenue and profits, dealers said. Other sectors, including auto, banking and health care, also bore the brunt of selling.

The Bombay Stock Exchange 30-share index, Sensex, moved erratically in a range of 13956.40 and 13741.24 before ending the day at 13765.46, a steep fall of 113.79 points or 0.82 per cent over Monday's close of 13879.25.

The Sensex has lost 312.75 points or 2.22 per cent in the last three successive sessions.

The broader S&P CNX Nifty of the National Stock Exchange (NSE) also dropped by 34.15 points or 0.83 per cent to 4077.00 from previous close of 4111.15. .

— PTI

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