Date:18/11/2008 URL: http://www.thehindu.com/2008/11/18/stories/2008111856051500.htm

Business

Sensex sheds 94 points in volatile trading

MUMBAI: Stock markets witnessed selling pressure on Monday with the benchmark Sensex dropping over 90 points after slipping below 9000 level, showing that the Summit of G-20 leaders have failed to bolster investor sentiment. In see-saw trade, the BSE 30-share index closed at 9291.01, a loss of 94.41 points.

The National Stock Exchange index Nifty also fell by 10.80 points to close at 2799.55.

The 30-share Sensex had slipped below 8000 level at 7697 on October 27 last.

After a weak opening, the Sensex traded below 9000 level before mid-session. With selling pressure intensifying, the bellwether index had lost nearly 428 points to touch the intra-day low of 8956.68.

However, it regained 9000 level on late buying by domestic funds. Erratic movements in European markets during early trade also influenced selling. — PTI