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Sensex down by 56 pts in line with global trend

Sensex suffered a sharp setback and ended down at 9,467.56 in an otherwise lacklustre activity day due to selling pressure.

india Updated: Jan 23, 2006 17:15 IST
Press Trust of India
Press Trust of India

The Bombay Stock Exchange Sensex on Monday suffered a sharp setback and ended 56 points down in an otherwise lacklustre activity day due to selling pressure triggered by distinctly weak trend in global market as well as a slowdown in FII inflows.

The BSE benchmark 30-share Index (Sensex) opened substantially down at 9,467.56 and later moved either-way in a range of 9,503.40 and 9,432.93 before ending the day at 9,464.90 against Friday's close of 9,520.96, a net loss of 56.06 points or 0.59 per cent.

Attributing bearish trend to global meltdown, brokers said the market failed to pick up as operators maintained low profile and their activity was confined to only squaring up of positions in the light of disappointing Q3 results announced by a blue chip counter Tata Steel as well as a slowdown in FII inflows in the last few days.

Operators and retailers were somewhat cautious following a sharp decline in activity of institutional investors.

Soaring oil prices that had risen past USD 69 a barrel at the last weekend took a heavy toll on the world markets.

In Asian markets, the Nikkei today ended down by 336.04 points, the Hang Seng by 197.31 points, the Taiwan Index by 104.66 points and the Kospi by 27.35 points.

The Nasdaq Composite Index too had fallen by 54.11 points at last weekend.

Operators were believed to be short in derivatives and were expected to cover positions during the day due to approaching end of the Futures contract on Wednesday, the brokers added.

First Published: Jan 23, 2006 12:14 IST