Date:09/04/2008 URL: http://www.thehindu.com/2008/04/09/stories/2008040951311600.htm

Business

Sensex sheds 169 points

MUMBAI: The Bombay Stock Exchange turned weak on Tuesday with the benchmark Sensex shedding 169 points in line with sluggish trend in Asian and European markets, even as investors awaited the fourth quarter results of Indian corporates.

Recovering from major initial losses, the 30-share Sensex closed at 15587.62, a fall of 169.46 points, or 1.08 per cent, from its previous close. The index dipped to intra-day low of 15479.42. The broader 50-share S&P CNX Nifty of the National Stock Exchange also dipped by 51.55 points, or 1.08 per cent, to close at 4709.65. The markets trimmed initial losses on selective purchases by foreign institutional investors who were net buyers in equity on April 7. The mid-cap and small-cap shares, however, attracted some buying interest and finished the day with moderate gains.

Marketmen said weakness in Asian and European markets weighed down on the local stocks. Asian indices closed down by about 1-1.5 per cent, while European markets traded sharply lower during early trade. — PTI