The Hindu : Business : Sensex down 120 points

Online edition of India's National Newspaper
Wednesday, Nov 28, 2007
ePaper

Business

Business

Sensex down 120 points

MUMBAI: The Bombay Stock Exchange benchmark Sensex came under pressure after a two-day pull-back rally and ended 120 points lower on weak global cues while operators rolled over derivatives positions to next series.

The stock market witnessed about 42 per cent market-wide rollover two days ahead of the expiry of November futures and options (F&O) contracts, brokers said.

The BSE barometer touched the day’s high of 19211.58 at the outset and later moved in a relatively narrow range of 192 points.

It ended the day at 19127.73, a net loss of 119.81 points against the previous close of 19247.54.

The Sensex had recovered by a whopping 721.22 points or 4 per cent in the last two days.

Asian markets bounced from initial lows but still ended with marked falls. Late recovery in Asian stocks was largely credited to reports that Abu Dhabi Investment Authority struck a deal to buy equity stake in Citigroup, which suffered write-downs as a result of sub-prime mortgage related losses.

Rupee steady

The rupee snapped a seven-day skid against the dollar and ended at 39.7750/7850 on Tuesday, although month-end dollar demand, weak Asian markets and capital outflows continued to put pressure on the Indian unit.

In fairly active trading at the interbank foreign exchange market, the rupee moved in a range of 39.73 and 39.90 after resuming weak at 39.86/88 from Monday’s close of 39.79/80. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business