Sensex sheds 371 points

print   ·   T  T  

MUMBAI: The Bombay Stock Exchange sensitive index (Sensex) snapped a four-day winning streak and capitulated 371 points to close at 10042.06, even as the Arcelor-Mittal deal failed to lend positive support to bourses across Asia.

The markets witnessed virtual collapse in the concluding one hour of trading due to across-the-board selling pressure from operators, who preferred to wind up positions in the derivatives on worries about rate hikes by the U.S. Federal Reserve.

Resuming on a promising note, the BSE 30-share sensitive index later reeled under pressure and touched the day's low of 9991.12 before closing at 10042.06 against Sunday's close of 10412.93, a net fall of 370.87 points or 3.56 per cent.

The Sensex had risen by a steep 590.41 points or 6.01 per cent in the last four days, including June 25 special trading session.

On the National Stock Exchange, the S&P CNX Nifty crashed by 107.10 points or 3.51 per cent to 2943.70.

Operators as also foreign institutional investors were believed to be aggressive sellers in the last one hour. PTI



Recent Article in BUSINESS

Fin Min to meet heads of PSU banks


Ministry to meetheads of PSU banksConcerned over rising bad loans in... »