BUSINESS

Sensex touches new low

MUMBAI OCT. 3. Battered public sector enterprise stocks, particularly oil sector, attempted a moderate rally even as the Sensex ended near one year low at 2938.06 on the Bombay Stock Exchange (BSE) today on buying interest prompted by the Prime Minister, A B Vajpayee's stand in defence of divestment process. The market made a promising start with the Sensex opening higher at 2963.61 on optimism about a positive decision on disinvestments in strategic oil sector after Mr. Vajpayee.

Had it not been for fresh sell-off by foreign institutional investors, equities would have witnessed a firm trend, market sources said adding that a few operators too pressed heavy sale in key counters such as RIL and HLL.

Reflecting sharp falls in heavyweighted counters many of which made a partial recovery at the fag end, the BSE 30-share index dipped to the day's low at 2921.69 before ending at 2938.06 against 2959.66, netting a fall of 21.60 points or 0.73 per cent. The broad-based BSE-100 Index also moved down 7.02 points to 1455.69. — PTI

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