Online edition of India's National Newspaper
Tuesday, Feb 13, 2007
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Online edition of India's National Newspaper Tuesday, Feb 13, 2007 ePaper |
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Special Correspondent
MUMBAI: In volatile trading on Monday, stock prices reacted sharply and the Bombay Stock Exchange 30-share sensitive index (Sensex) plunged 348.20 points to close below the 14200-mark. Foreign institutional investors were net sellers to the tune of Rs. 560 crore in index-based futures last Friday. Moreover, most Asian and European markets closed lower on selling pressure. Hong Kong's Hang Seng fell 84.25 points at 20593.41, Taiwan's weighted index was down 83.17 points at 7776.36, Singapore's Straits Times index closed lower by 50.43 points at 3170.46 and South Korea's Seoul Composite index was down by 13.39 points at 1414.29. The BSE recorded a turnover of Rs. 4,318.48 crore as compared to Rs. 4,542.52 crore last Friday. Trading began on a bearish note and the selling pressure continued throughout the day. Last Friday, the market fell by 113 points. While the Sensex lost 348.20 points to close at 14190.70, the NSE Nifty lost 129.10 points to close at 4058. The BSE metal index lost 5.46 per cent at 8616.43, BSE Bankex 2.61 per cent at 7362.83, BSE FMCG index was down 0.93 per cent at 1883.44 and the BSE IT index lost 1.01 per cent at 5423.76. PTI reports: Even as corporate India was cheering billion-dollar deals involving Hutch Essar and the Birlas, the stock market witnessed a free-fall on concerns that a spate of merger and acquisitions was weighing down on the companies' financial health. Concerns over soaring inflation added to the market woes for the second straight trading session.
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