Date:27/05/2008 URL: http://www.thehindu.com/2008/05/27/stories/2008052755721700.htm

Business

Sensex drops 301 points

MUMBAI: The Bombay Stock Exchange sensitive index fell on Monday as investors sold leading cement company stocks and banking scrips. The Sensex fell 301 points and ended at 16348.50 against the close of 16649.64 on last Friday.

The 50-share index of the National Stock Exchange declined by 71 points and ended at 4875 points. Ambuja Cements closed lower by 5.4 per cent, followed by Grasim Industries by 3.5 per cent and ACC by 1.9 per cent. Reliance Communications fell 5 percent to Rs. 543.

Rupee ends lower

The Indian rupee ended slightly cheaper against the dollar at 42.72/73 on Monday on month-end dollar demand by oil companies.

At the interbank foreign exchange market, the local currency fluctuated in a wide range of 42.7950 and 42.53 after resuming weak at 42.7900/7950 a dollar from Friday’s close of 42.71/72. — PTI