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Sensex, Nifty fall in narrow movements

MUMBAI: The Bombay Stock Exchange (BSE) benchmark Sensex shed 70 points on Wednesday after being trapped in a small range throughout the day on selective profit selling triggered by weak global cues.

After a feeble resistance shown in the past two days, the markets succumbed to selling pressure amid a slowdown in foreign institutional investor inflows and absence of short-covering, market players said.

The Bombay Stock Exchange barometer changed the tracks after a promising start at 14520.19 and touched the day’s low of 14407.12 before ending the day at 14431.06, a net fall of 70.02 points from Tuesday’s close of 14501.08.

Tracking a further fall in the heavyweight ONGC, the broader S&P CNX Nifty of the National Stock Exchange dipped by 21.75 points to 4263.95 from the previous close of 4285.70. The market failed to sustain in view of continued global weakness and approaching expiry of June series. — PTI

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