Business

Sensex drops 50 points

MUMBAI, MARCH 26. Distress selling by operators, leading to stale bull liquidation in select counters by domestic funds, drove the Sensex sharply down by 49.82 points to close at 3466.29 on the Bombay Stock Exchange today, stretching losses for the third consecutive session.

With the Sensex ending below the crucial 3500-support level and volumes dropping to four month lows at Rs. 875.98 crores, the general undertone has turned distinctly weak, even as the passing of the controversial POTO Bill also weighs on the market, dealers said. They attributed the low volumes to depressed sentiment following a truncated holiday week as operators preferred to book profits and decided to stay away in the current fluid political situation.

The BSE remained closed yesterday on account of Mohurrum and will remain so on Friday following Holi and Good Friday. A steep fall in the Sensex could be gauged by a sharp decline in heavyweights from new as well as old economy segments such as Infosys.

— PTI

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