Sensex down 43 points on renewed selling

MUMBAI, SEPT. 20. Equities reacted afresh on the Bombay Stock Exchange today following renewed unloading by foreign funds as talk of war and global economic uncertainties cut-short a two- session rally, leaving the index down by 42.50 at 2761.66.

However, continued buying by local funds, led by Unit Trust of India in select index-based old economy shares, helped the Sensex mitigate the fall, dealers said.

Software counters continued to reel under nervous selling following sustained downslide on the Wall Street where the Dow Jones Industrial Average and Nasdaq composite index dropped by 144.27 points and 27.28 points respectively yesterday.

The negative turnaround was mainly attributed to reports that the U.S. had begun to reposition its forces for military operation to stamp out global terrorism, a dealer said.

Bearish sentiment in Japan, Hong Kong and Singapore markets at close today also partly dampened the sentiment, he added.

Depicting the downtrend, the BSE-30 share sensitive index opened lower at 2781.46 and dropped further to a low of 2674.82. However, it recovered later to close at 2761.66 against Wednesday's close of 2804.16, still showing a fall of 1.52 per cent. The BSE-100 index also declined by 21.21 points to 1277.85 from 1299.06.Yesterday's favourite cement counters dropped sharply on heavy profit booking while power sector shares attracted brisk buying support.

In the specified group, 135 including 21 index-based scrips logged sharp to moderate losses while 36 others closed with gains.

- PTI

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