Late selling reverses trend, Sensex loses 100 pts
A fag-end selling reverses the early firm trend as the benchmark Sensex plunges nearly 100 points on the Bombay Stock Exchange on Monday.business Updated: Sep 17, 2007 19:00 IST
A fag-end selling reversed the early firm trend as the benchmark Sensex plunged nearly 100 points on the Bombay Stock Exchange on Monday on selling by funds in heavy weight software developer stocks.
The Sensex, which opened the day higher by 105 points, fell back and lost 99.37 points at 15,504.43, after touching a high of 15,726.06 and a low of 15,467.46 points.
Similarly, the wide-based National Stock Exchange index Nifty rose by 23.35 points at 4,494.65, after rising to 4,549.05 and a low of 4,482.85 points.
The market tumbled on heavy selling by funds in IT stocks such as Tata Consultancy and Infosys Technology. The IT index suffered the most by losing 61.66 points at 4,387.26 followed by Teck index by 50.78 points at 3,479.06.
Bank index fell by 45.34 points at 8,090.77, realty by 44.74 points at 7,928.01 and oil and gas by 15.13 points at 8,372.09.
The market received some cushioning to falling index as consumer durable index remained higher by 146.60 at 4713.97.