Bleak pre-budget economic outlook takes toll on Sensex

MUMBAI, FEB. 23. The gloomy picture of the economy, projected by the pre-budget Economic Survey, took a heavy toll on share values on the Bombay Stock Exchange today, as fresh wave of selling across the board pushed down the Sensex by a whopping 140.39 points to close at 4122.16.

The BSE-30 share sensitive index opened little changed at 4261.81 and touched a high of 4277.36. Later distress selling by operators pulled down the Sensex to a low of 4118.09 before closing at 4122.16, recording a loss of 3.29 per cent. The BSE- 100 index also tumbled by 82.25 points to 2083.91 from 2166.16.

Dealers said the market, already reeling under pressure for the past three consecutive sessions following the Nasdaq meltdown, reacted sharply downwards from midsession after the bleak pre- budget economic outlook news trickled in.

``There was a flurry of activity, as sellers took control of the market with buyers difficult to locate," a broker said. All 30 index-based shares ended in the negative territory, mirroring the bear onslaught.

- PTI

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Section  : Business
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