Date:05/09/2008 URL: http://www.thehindu.com/2008/09/05/stories/2008090553591800.htm

Business

Selling pressure on BSE

MUMBAI: The Bombay Stock Exchange came under selling pressure on Thursday with the Sensex shedding over 150 points after gaining over 500 points in a buoyant session on Tuesday, reflecting the uncertainty over the Indo-US nuclear deal.

The Sensex settled at 14899.10, a fall of 150.76 points against 15049.86 on Tuesday. .

Selling pressure was more pronounced in front-line stocks, marketmen said. Reliance Industries, which have the highest weightage on the Sensex, was down 2.75 per cent.

ONGC also fell by 2.97 per cent. Other major losers among the Sensex club were Sterlite Ind (3.69 per cent), HDFC Bank (2.80 per cent), ITC (2.62 per cent), Hind Unilever (2.49 per cent), Rel Infra (2.32 per cent), Rel Comm (1.89 per cent) and DLF (1.34 per cent).

Rupee gains

Snapping its four-day falling streak, the Indian rupee on Thursday gained eight paise at 44.35/36 against the U.S. currency on dollar selling by banks amid sluggish equity markets.

In wide movements at the interbank foreign exchange market, the domestic unit fluctuated between 44.55 and 44.20, after resuming steady at 44.43/44. — PTI