The Hindu : Business : Sensex sheds 99 points

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Tuesday, Jan 15, 2008
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Sensex sheds 99 points

MUMBAI: After the last Friday’s rally of nearly 245 points, the Bombay Stock Exchange benchmark index Sensex beat a hasty retreat and shed nearly 99 points on Monday following heavy losses in telcom major, Bharti Airtel and top IT stocks such as Wipro, Infosys and TCS.

Amid the fall, the mid-cap and small-cap stocks staged a smart recovery, after a large downward correction of 6.67 per cent and 8.57 per cent respectively during the past week. The 30-share index touched a high of 20985.62, just short of psychological 21000 mark, and saw a low of 20661.90. The Sensex ended at 20728.05, a fall of 99.40 points from the last Friday’s close of 20827.45

The National Stock Exchange index Nifty, however, gained 6.70 points to close at 6206.80 against 6200.10.

Rupee marginally up

The rupee ended marginally better at 39.28/29 against the dollar on Monday. It closed at 39.2950/3050 on Friday. The central bank was not active during the day but is believed to be very alert and likely to absorb dollar inflows through the mega public offer of Reliance Power this week, dealers said.

In extremely narrow movements at the interbank foreign exchange market, the local currency was trapped in a small range of 39.26 and 39.30 after resuming slightly higher at 39.27/29 a dollar. — PTI

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