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Sensex dips further

MUMBAI: The Sensex continued its fall for the fourth day in a row by losing 353 points on Tuesday on increased selling induced by fresh concerns on subprime mortgage crisis in the U.S.

The BSE index touched the intra-day high of 19714.22 before the mid-session but later fell despite a bounce back in Asian indices and firm start in European markets.

The Sensex fell to a low of 19196.42 before ending at 19280.80, a net fall of 352.56 points or 1.80 per cent from Monday’s close of 19633.36.

The S&P CNX Nifty of the National Stock Exchange tumbled 126.75 points or 2.15 per cent to close at 5780.90 from 5907.65.

Heavyweights such as RIL, ONGC, BHEL, Grasim, HDFC Bank HDFC, Hindalco, ICICI Bank, Infosys, L&T, Maruti Udyog, NTPC, SBI and TCS were among prominent losers.

Worries of widening mortgage losses re-emerged after a leading fund Goldman Sachs downgraded Citigroup’s shares from neutral to sell, forecasting more write-downs by the bank due to mortgage related losses, market players said. — PTI

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