The Hindu : Sensex touches new low

Online edition of India's National Newspaper
Friday, Oct 04, 2002

Business

Business

Sensex touches new low

MUMBAI OCT. 3. Battered public sector enterprise stocks, particularly oil sector, attempted a moderate rally even as the Sensex ended near one year low at 2938.06 on the Bombay Stock Exchange (BSE) today on buying interest prompted by the Prime Minister, A B Vajpayee's stand in defence of divestment process. The market made a promising start with the Sensex opening higher at 2963.61 on optimism about a positive decision on disinvestments in strategic oil sector after Mr. Vajpayee.

Had it not been for fresh sell-off by foreign institutional investors, equities would have witnessed a firm trend, market sources said adding that a few operators too pressed heavy sale in key counters such as RIL and HLL.

Reflecting sharp falls in heavyweighted counters many of which made a partial recovery at the fag end, the BSE 30-share index dipped to the day's low at 2921.69 before ending at 2938.06 against 2959.66, netting a fall of 21.60 points or 0.73 per cent. The broad-based BSE-100 Index also moved down 7.02 points to 1455.69. — PTI

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