Sensex falls 52 points

The Sensex dropped from the inter-day high of 3617.14 to 3538.96 before closing at 3546.21 with a net loss of 51.77 points compared to the previous level of 3597.98. The BSE-100 index lost 21.10 points to 1577.28 from the previous level of 1598.38.

"The capital market is disappointed that buy back of shares did not come through and is slated for the winter session. The market which took an upswing yesterday hugely based on rumours that buy back of shares may be allowed sooner than expected, has taken a beating today laying to rest yesterday’s euphoria" said aBSE broker. The volume of business was low at Rs 1221.18 crore, down by Rs 408.21 crore from yesterday’s turnover.

On the NSE, after a better start, share prices turned weak during the day on emergence of selling pressure and closed with widespread losses. The NSE-50 opened at 1034.10 and crashed to end at 1027.27, showing a fall of 6.90. Midcap resumed firm at 1525.00 but could not sustain that level and dropped to close at 1515.75, revealing a fall of 8.55.Around 492 securities advanced and 475 declined with 85 securities held steady. 71 securities hit their price bands.The volume of business fell steeply to 1,636.52 crore.