The Hindu Business Line : Sensex down 153 points

PRIMARY market promise took the sheen off secondary markets today, as investors selling ahead of upcoming public issues caused a 153-point decline in the BSE Sensex. Also contributing was the expiry of the February derivatives contract.

Brokers said all-round selling pressure in stocks dragged the market lower once again as investors disinvested in the secondary markets to put money in a slew of public offers from the Government.

The nearing of the expiry of February futures contract is also leading to some selling in the market and depressing stock prices.

The market traded weak for the most part of the session after a steady opening and subsequent decline from the higher levels. The BSE Sensex opened higher with a gap of 17 points at 5,868.60. After touching a high of 5,875.23 in the early trades, the Sensex slipped, and traded in the red for the rest of the session. The Sensex declined steadily through the session. It slipped below the 5,700-mark and closed at 5,698.04, a fall of 152.66 points (2.61 per cent).

On the NSE, the S&P CNX Nifty closed at 1808.20, down 44.45 points (2.40 per cent).

There has been continuous slide in the stock prices since last week.

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