BUSINESS

Sensex sheds another 180 points

MUMBAI: The Bombay Stock Exchange 30-share Sensex ended 180 points lower on Friday amid high volatility as easing inflationary pressure helped markets recover part of the early losses while scandal-hit Satyam Computer plunged for the second day in succession. It lost 749 points on Wednesday.

Satyam Computer hit its all-time low of Rs. 11.50 per share on the BSE, a fall of 94 per cent from its closing level of January 6, after the company confessed to its manipulating accounts. Satyam shares also hit their record low of Rs. 6.30 per share at one stage on the NSE against Tuesday’s close of Rs. 178.95. It, however closed at Rs. 23.75, registering a fall of 40.3 per cent.

A strong recovery on selective buying support alternated with sustained selling pressure in shares. The BSE bellwether settled the day at 9406.47, netting a fall of 180.41 points or 1.88 per cent from its last close.

It is the last day for Satyam in the Sensex family as it would be replaced by Sun Pharma with effect from January 12. It will also be replaced by Reliance Capital in the Nifty.

Satyam Computer is also being removed from other indices such as the BSE IT, BSE-100, BSE-200, BSE-500 and BSE Teck index. The 50-share Nifty of the National Stock Exchange tumbled by 47.40 points to close at 2873.

Rupee gains 52 paise

The rupee bounced back against the dollar after breaching the 49-level and gained 52 paise on Friday.

It closed at 48.28/29 against 48.81 a dollar on Wednesday. Resuming weaker at 49.20/21, the rupee later fluctuated between 48.28 and 49.28 during the day. — PTI

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