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Journalism of Courage
Equities ran out of steam and select heavyweight counters registered sharp falls pushing the Sensex down by 49 points at close on the stock exchange here on Tuesday on heavy unloading by operators amidst drastic slow down in FII activity.
The BSE benchmark 30-share index rallied smartly to the intra-day high at 4,981.48 during initial part of the session, but later met strong resistance and fell back after midsession to end at 4,891.13 as against Monday’s close of 4,940.23, a net loss of 49.10 points or 0.99 per cent. The broad-based BSE-100 index moved down by 23.12 points to 2,527.97 from the previous close of 2,551.09.
Despite weak global advices, operators were seen creating fresh positions in several blue-chip counters at the early stages. However, speculators later resorted to unloading in the absence of any worthwhile purchases from the principal driving force foreign institutional investors (FIIs). FIIs have severely slowed down activity since last week and made net investments of a meagre Rs 12 crore last Friday.
