Date:05/08/2008 URL: http://www.thehindu.com/2008/08/05/stories/2008080555141700.htm

Business

Sensex drops 79 points

MUMBAI: Weighed by sluggish global cues, the Bombay Stock Exchange barometer Sensex on Monday turned negative losing 79 points due to selling in select frontline counters.

The 30-share Bombay Stock Exchange index settled at 14577.87, a fall of 78.82 points over its previous close.

The Sensex touched an intra-day high of 14725.94 and a low of 14503.51.

The 50-issue Nifty of the National Stock Exchange also declined by 18.20 points to 4395.35 from the last close.

Small-cap and mid-cap stocks were in the limelight on good buying support at lower levels from retail investors.

Last Friday, the Sensex had risen by nearly 301 points.

Rupee sheds 14 paise

The rupee dropped by 14 paise to 42.49/42.50 against the U.S. currency on good demand for dollars from banks and oil companies in view of the rise in oil prices in global markets. At the interbank foreign exchange market, the rupee resumed lower at 42.44/45 against last Friday’s close of 42.35/36 and ended sharply lower at 42.50. — PTI