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Sensex slides 287 points

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Selling in blue chips and negative global cues impact

The Bombay Stock Exchange sensitive index, Sensex, on Thursday recorded its biggest decline in about a month with a 287-point fall on heavy selling in blue chips such as RIL, Bharti Airtel and DLF and negative cues from South Korea and Europe.

Selling pressure intensified late afternoon trade as reports trickled in about fall on South Korean bourses due to a large-scale foreign fund selling, which is being attributed to failure of U.S. President Barack Obama and his Korean counterpart to reach a free trade accord. Despite opening on a handsome note, the 30-share sensitive index corrected by 286.62 points or 1.37 per cent to settle the day at 20589.09. On October 15, the barometer had tumbled by 372 points. Similarly, the National Stock Exchange's wide-based Nifty tanked 81.45 points to finish at 6194.25. Analysts attributed the bearish sentiment to lack of fresh buying in the market and the negative global cues.

Rupee edges down

In lacklustre trading, the rupee on Thursday ended flat for the second straight day at 44.31/32 against the U.S. currency despite firm dollar overseas and steep fall in local equities.

The rupee opened better at 44.25/27 from its previous close of 44.30/31. It touched a high of 44.and fell back to a low of 44.3450 before concluding at 44.31/32. — PTI


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