Date:22/07/2006 URL: http://www.thehindu.com/2006/07/22/stories/2006072204501700.htm

Business

Market ignores robust earnings of corporates

MUMBAI: Ignoring robust first quarter earnings by major corporates Satyam Computer, Tata Steel and ITC, the Bombay Stock Exchange benchmark, Sensex, on Friday fell by a huge 267.03 points to 10085.91, taking a cue from weak global markets.

The market had recovered by 346 points or 3.45 per cent in a brief rally on Thursday after a five-day of losing string.

The 30-share sensitive index (Sensex) gradually moved downwards after a subdued start at 10336.38 and later closed at 10085.91 against 10352.94, a net fall of 2.58 per cent. On the National Stock Exchange, the S&P CNX Nifty dipped by 78.05 points or 2.58 per cent to 2945.Foreign institutional investors, who covered positions amounting to Rs. 1,460 crore in futures on Thursday, were believed to be buyers. — PTI