Sellout, G20 fears sink Sensex 286 pts | business | Hindustan Times
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Sellout, G20 fears sink Sensex 286 pts

business Updated: Nov 11, 2010 22:08 IST

The Bombay Stock Exchange benchmark Sensex fell by 286 points or 1.4% on Thursday to close at 20,589 as traders went for profit booking amid fears over the currency spat at the G20 summit in Seoul, and huge fund outflows by foreign institutional investors (FIIs) in South Korea.

The Nifty at the National Stock Exchange (NSE) fell by 81 points or 1.3% to end Thursday at 6,194 points.

“There was some profit booking in the market as market players are apprehensive about the currency deliberations at the G20 meeting in Seoul,” said Manish Sonthalia, portfolio manager at Motilal Oswal Financial Services.

Concerns also went up in the market as the Seoul Market saw heavy FII outflow that led to a fall in the Seoul Composite index by 2.7%. “Market players got concerned over any such FII movement,” said Alex Mathews, head of research at Geojit BNP Paribas Financial Services.