Shares drift down further

MUMBAI, MARCH 20. Equities continued their downdrift pushing the Sensex further lower by about 50 points at close on the Bombay Stock Exchange today due to sustained selling pressure from domestic operators and speculators.

Foreign institutional investors which had pumped in over Rs. 1,000 crores net investments in the last settlement period, also have slowed down their activity on the bourses.

After a promising start at 3736.09, the BSE sensitive index gradually moved downwards moving in a small range of about 30 points and closed at 3672.40 against yesterday's close of 3722.49, netting a fall of 50.09 points or 1.35 per cent.

The Sensex had fallen to a low of 3644.51 but staged a partial recovery in last 30 minutes.

Dealers said operators and speculators were extremely cautious and preferred to lighten their commitments in the light of continuous rumours about serious payment crisis on the Calcutta Stock Exchange (CSE) and that the CSE might mortgage its assets to tide over the crisis.

- PTI

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Section  : Business
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