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Our Bureau

Mumbai, Oct. 29 The BSE Sensex dived 230 points on Thursday as foreign institutional investors continued their selling amid negative global cues and rising inflation concerns. The benchmark index closed at 16,052.70. The broader Nifty closed 1.5 per cent down, at 4,750.55.

The Sensex touched an intra-day high of 16,264, but quickly dropped to a low of 15,993.8.

FIIs were net sellers on Thursday for Rs 2,546.6 crore, while domestic institutions were net buyers for Rs 977 crore. Retail investors seem to have taken advantage of the situation and bought equity worth Rs 113 crore (on BSE) in the net.

Since Monday the Sensex has fallen more than 4 per cent.

“The markets had opened on a weak note on the back of weak global cues. The volatility in the market was high, today being the October F&O expiry. The markets moved in a sideways manner till the noon session and saw a smart recovery. In the noon session, the inflation for the week ended October 17 came at 1.51 per cent as against 1.21 per cent previously. The markets slipped drastically with selling pressure in realty, metal and banking stocks,” said Mr Alex Mathew, Head of Research at Geojit BNP Paribas Financial Services.

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