Financial Daily from THE HINDU group of publications
Saturday, Dec 06, 2003
Financial Daily from THE HINDU group of publications Saturday, Dec 06, 2003 |
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Stock Markets Markets - Stock Markets Heavy selling drives Sensex down 94 points Our Bureau
Mumbai , Dec. 5 HEAVY selling in pivotal stocks brought down major indices of the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) on Friday. The 30-share benchmark of the BSE lost more than 94 points or 1.8 per cent to close at 5131.72 and the S&P CNX Nifty of the NSE closed 1.76 per cent down at 1645.80. Pivotal stocks such as Reliance that lost 3 per cent and SBI that gave up 2 per cent value contributed to the Sensex's fall. A stock dealer with a local brokerage firm said that tea and FMCG stocks such as Tata Tea that rose 6 per cent and Hindustan Lever that went up 3 per cent saved the indices from a complete rout. "If not for (Hindustan) Lever and ITC, the Sensex would have been a disaster today. Investors have sold in all major frontline as well as mid-cap stocks," he said. Major casualties belonged to the technology sector. The BSETECk index lost nearly 2.86 per cent while the NSE IT closed lower by 3.27 per cent. BSE's BANKEX too lost 2.6 per cent in Friday's sell-off.
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