Sensex drops by 61 points

MUMBAI, Oct 13: The BSE sensitive index slumped from the intra-day high of 2865.24 to touch the day's low of 2785.41 and finally ended at...

MUMBAI, Oct 13: The BSE sensitive index slumped from the intra-day high of 2865.24 to touch the day’s low of 2785.41 and finally ended at 2811.31, with a net loss of 61.17 points over the previous close of 2872.48. The BSE-100 index also declined by 27.43 points from the previous close of 1283.43.

Brokers said that the UTI fiasco continued to affect the market sentiment. Reports that IDBI and Bajaj Auto have applied for redemption in the US-64 scheme further dampened the market sentiment. FIIs pressed sales in pivotals while UTI reportedly made small purchases.

A fresh fall in the world stock markets mainly at Tokyo, Hong Kong and discouraging trend at the London also aided the downtrend. Operators discounted repeated statements by the Finance Minister Yashwant Sinha in support of the UTI and his reported warnings to FIIs. They picked up shares on the National Stock Exchange (NSE) on the last day and sold them on the BSE.

On the NSE pivotals declined further on increased selling by FIIs. The S&P CNXNifty declined by 19.05 to end at 816.75 from the last level of 835.80. The total volume of business was Rs 1,706.43 crore. The exchange witnessed 202 shares advance, 793 shares decline and 73 shares remain unchanged. 63 securities hit their price bands.

EXCLUSIVE: EC brings in feature to check misuse of identity to seek voter list deletions

Political Pulse58 min ago

The Election Commission has launched a new 'e-sign' feature on its portal and app to prevent fraud. This comes after allegations of misuse of online voter deletion forms in Karnataka. The feature requires voters to verify their identity using their Aadhaar-linked phone numbers, reducing the possibility of fraud.

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