The Hindu : Business : Late selling drags Sensex by 167 points

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Friday, Jan 18, 2008
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Late selling drags Sensex by 167 points

MUMBAI: The Bombay Stock Exchange came falling down for the fourth consecutive day on Thursday with the benchmark Sensex losing a hefty 167 points on late nervous selling though the third quarter results of heavyweight Reliance Industries are in line with street expectations.

“The quarterly earnings of Reliance Industries are in line with the market expectations but as the underlying sentiment is negative it did not excite the markets much,” said SMC Global Vice-President, Rajesh Jain.

The global worries about a recession in the U.S. showed no signs of easing, making the market sentiment bearish.

Extending its losses to the fourth straight day, the 30-share BSE barometer closed at 19700.82, a fall of 167.29 points from the previous close.

Rupee little changed

The rupee on Thursday closed barely changed at 39.3050/3150 against the greenback after moving in a narrow range on continued dollar demand by banks amid weakness in equity markets.

The Indian currency closed at 39.29/30 on Wednesday. — PTI

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