Sensex down 41 points on distress selling

MUMBAI, FEB. 1. Equities drifted further downwards pushing the Sensex lower by another 41 points in extremely erratic movements on the Bombay Stock Exchange today in the wake of distress selling triggered by Supreme Court judgment upholding the market regulator's decision to levy registration fee on brokers' turnover.

Reflecting the roller-coaster ride, the BSE sensitive index opened weak at 4303.13 and later moved up and down in a range of 4335.39 and 4230.17 before closing at 4286.11 against yesterday's close of 4326.72, netting a fall of 40.61 points.

The BSE-100 index dropped by 33.50 points to 2175.81 from 2209.31.

Sensing negative judgment this morning, the market met with resistance at early stages and later witnessed two-way movements after the SC upheld the decision of the Securities and Exchange Board of India (SEBI) to charge stock brokers a turnover tax for the last five-year period prior to grant of registration.

- PTI

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Section  : Business
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