The Hindu : Sensex loses 52 points

Online edition of India's National Newspaper
Friday, Apr 26, 2002

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Sensex loses 52 points

MUMBAI APRIL 25. Share values declined sharply on the Bombay Stock Exchange today, following hectic all round selling by operators, pushing the Sensex down by 52.28 points to close at 3359.64 that cut-short a three-session winning streak.

Weak New York advices and the ongoing political uncertainties have all weighed heavily on share prices, dealers said. Negative sentiment on Wall Street, where the tech-heavy Nasdaq Composite Index showed a further overnight fall of 19 points, the third consecutive decline, led to large offloading of holdings, resulting in sharp to moderate losses.

Dealers said foreign institutional investors were reluctant to take fresh positions and preferred to wait on the sidelines due to the current fluid political situation.

The FIIs were reportedly net sellers in some of the IT stocks for the last couple of days. Do,mestic funds also booked profits in old economy scrips, including select public sector enterprises (PSEs) and some heavyweights.

The BSE-30 share sensitive index resumed firm at 3420.62 and immediately touched a high of 3421.88.

Later, it met with strong resistance and dropped sharply to a low of 3350.94 before finishing at 3359.64 against 3411.92, a steep fall of 1.53 per cent. The broad-based BSE-100 index dipped by 26.41 points. — PTI

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