Date:19/08/2008 URL: http://www.thehindu.com/2008/08/19/stories/2008081955901500.htm

Business

Sensex dips further

MUMBAI: The Bombay Stock Exchange’s sensitive index (sensex) completed four sessions of losing streak by shedding over 78 points on Monday with refinery, metal and auto stocks coming under selling pressure amidst weak global cues.

The sensex moved in a range of 14824.92 and 14600.65 before closing at 14645.66 against last Thursday’s close of 14724.18. In the past five sessions, the Sensex has lost 858.26 points. The 50-issue Nifty of the National Stock Exchange also moved down further by 37.65 points to 4393.05.

Refinery, metal, auto and power counters came under selling pressure, while IT counters attracted good buying support, cushioning the fall to some extent. IT stocks attracted buying support on sustained fall in the value of rupee.

Analysts said the market continued to be weighed down by recent weak data which displayed slowdown in Indian economy.

Sluggish world stock markets also impacted the domestic bourses.