String of losses on BSE

MUMBAI, OCT. 30. Distress selling by operators in the wake of a global bearish trend pulled down the Sensex by yet another 51.88 points to close at 2957.45 on the Bombay Stock Exchange today, stretching a four-session string of losses.

A steep decline in the Sensex could be gauged by a sharp to moderate losses in 25 out of the 30 index-based counters.

Software shares bore the brunt of foreign funds selling following a heavy downslide of 69.44 points in the tech-laden Nasdaq composite index yesterday. The Dow Jones Industrial Average also dipped by 275.67 points.

Southeast Asian markets also closed lower partly affecting the sentiment. The Nikkei was down by 99.49 points, Hang Seng by 101.66 points and Singapore ST index by 10.38 points at close today.

The weakness was noticed right from the onset of business with the BSE-30 share sensitive index resuming below the 3000- psychological level at 2995.37 and dropped further to a low of 2953.38 before concluding at 2957.45 against yesterday's close of 3009.33, a sharp fall of 1.72 per cent. The BSE-100 index also dipped by 26.89 points to 1375.56 from 1402.45.

Foreign institutional investors reportedly sold shares of Infosys Technologies, Satyam Computers, Wipro, Zee Telefilms, Hughes Software and few others.

- PTI

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Section  : Business
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