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G-20 fails to impress market

Share prices declined for the fourth straight day amid disappointment that the heads of G-20 nations did not announce any specific actions to counter global economic downturn.

business Updated: Nov 17, 2008 20:52 IST
HT Correspondent

Share prices declined for the fourth straight day amid disappointment that the heads of Group of 20 (G-20) nations did not announce any specific actions to counter global economic downturn. Also, the Reserve Bank of India’s (RBI’s) another set of measures announced on Saturday last to induce greater flow of credit was not expected to boost growth.

The Bombay Stock Exchange’s Sensex fell 94.41 points — or one per cent — to 9,291.01 points, after dipping to 8,956 in intra-day low (four per cent from the previous close) below the psychologically unnerving 9,000 mark.

The BSE 200 index fell 1.6 per cent to 1,120.01.