Sensex closes sharply at 172 points

The BSE barometer witnessed its biggest decline since September 11 this year, ending at 13,601.95.

india Updated: Nov 28, 2006 19:31 IST

The Bombay Stock Exchange barometer Sensex declined 172 points on Tuesday, the biggest fall since September 11 this year, on the back of fresh selling spree and a sharp slide in global markets to end at 13,601.95.

Operators and retail investors, who were expecting a further rally in Futures and Options segment, rushed to sell their part of holdings to book profits ahead of the expiry of derivatives contract on November 30, dealers said.

The BSE 30-share sensitive index, which closed at a new peak on Monday, opened sharply lower at 13,690.67 and later tumbled further to below 13,600-mark at 13,577.38.

Later, it concluded at 13,601.95, a net fall of 1.25 per cent, from 13,773.59 on Monday and the biggest pointwise fall since September 11.

On National Stock Exchange, the S&P CNX Nifty also dived down by 47.15 points or 1.19 per cent to close at 3,921.75 from previous close of 3,968.90.

The entry of world's largest retailer, Wal-Mart Stores, was well greeted by local investors on Monday, sending the indices to dizzy heights. But below-expected sales forecast for the month, sent the US stock markets tumbling overnight.

On Wall Street, the Dow Jones Industrial Average dropped by 158.46 points. The Nasdaq Composite Index also dipped by 54.34 points, biggest decline since June 5.

In Asia, the Hang Seng slumped by 564.48 points, the Singapore ST by 53.13 points, Taiwan Weighted by 53.21 points, the Nikkei by 30.12 points and the Kospi by 13.66 points.

All sectorial indices landed in red at close with IT and metal segments leading the downslide.

First Published: Nov 28, 2006 19:31 IST