The Hindu : Business : Sensex extends losses

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Thursday, Nov 08, 2007
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Business

Sensex extends losses

MUMBAI: The stock market on Wednesday fell for the third day in a row with the benchmark Sensex shedding another 111 points, despite sharp gains registered by heavyweights such as Reliance Industries and State Bank of India.

The Bombay Stock Exchange’s 30-share Sensex settled at 19289.83, down 110.84 points from its previous close of 19400.67.

In a volatile trading session, the barometer index swayed over 400 points during the day between its intra-day high and low levels of 19678.50 and 19249.47 respectively.

The sluggish mood in other Asian markets was named as the key factor behind the fall, while some traders also attributed it to profit booking ahead of Diwali.

The National Stock Exchange’s 50-share Nifty closed 4.15 points down at 5782.35 against Tuesday’s close of 5786.50.

However, shares of RIL, which carry the maximum weightage on the Sensex, defied the slide and gained about four per cent.

Rupee ends steady

The rupee on Wednesday cruised to Rs. 39.16 a dollar during the day following heavy dollar selling by exporters, but ended steady at 39.31 after the Reserve Bank of India’s intervention. In an active trade at the interbank foreign exchange market, the rupee moved in a range of 39.16 and 39.33 resuming firm at 39.25/26. — PTI

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