Sensex down by 115 pts, closes at 11,915
The fall was in line with extremely weak trends due to high global oil prices, which touched the $75 a barrel mark.india Updated: Apr 24, 2006 17:50 IST
The Sensex ended on Monday at 11,915.24 points, lower by 115 points.
The fall was in line with extremely weak trends in Asian bourses, presumed to be a reaction to high global oil prices, which touched the $75 a barrel mark.
The drop was termed by analysts as a 'technical correction'.
IT companies like TCS, Infosys and Wipro were among the prime losers.
The 'correction' came after the market recorded a spurt of 800 points during the last week amid reports that operators were busy squaring their future accounts ahead of the expiry of the April settlement period on Thursday.
The index turned weak after a strong early upsurge to 12,071.07, and dropped to the intra-day low of 11,882.48, before ending the day at 11,915.24 against Friday's close of 12,030.30, a net fall of 115.06 points or 0.96 per cent.
Attributing the sell-off, particularly at the fag end of the session, a leading stock broker said that surging crude oil prices and reports of monsoon below normal caused concerns among investors.