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Our Bureau

Highest intra-day loss since July 17

NOTHING TO CHEER ABOUT: A worried stock broker looking at the monitor as the BSE Sensex closed down 368 points in Mumbai on Monday. — Paul Noronha

Mumbai , Sept. 11

Stocks slithered on the BSE and NSE in line with weak trends in the Asian and world markets today.

The BSE-30 Sensex saw the worst intra-day loss of 413.05 points in almost two months (since July 17), before ending the day shedding 367.96 points to close at 11,550.69 points, down 3.09 per cent. The S&P CNX Nifty closed at 3366.15 points, down by 3.03 per cent.

Heavy selling by top FIIs was also seen as an important factor though, according to provisional figures available on NSE, FIIs were net buyers today for Rs 18.93 crore.

`Futures market down'

"In the futures market, selling of futures was witnessed and people are sitting on cash. The futures market was down adding to the losses for the day," said Mr Sailesh Shah, broker, Rapid Capital Services.

All indices on the BSE were down with losses being more than 2 per cent each. The steepest drop was seen in the BSE Metal index, which closed at 8,190.26 points, down by 436.01 points or 5.08 per cent.

`Weak Asian markets'

"Asian markets were weak since the past few days. Also the London Metal Exchange and global exchanges such as Dow Jones were seen dipping last week." said Mr Bhavesh Vakharia, Head- Retail Dealing, Parag Parikh Financial Advisory Services Ltd.

Top losers included Reliance Energy (down 5.94 per cent at Rs 459.10), followed by Tata Motors (down 5.56 per cent at Rs 848.05) and Tata Steel (down 5.35 per cent at Rs 496.70). Volumes, however, were put at Rs 3,406.61 crore on the BSE. At the same time, gold prices fell below $ 600 an oz.

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