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This is an archive article published on January 8, 1998

Sensex loses 36 points

MUMBAI, JAN 7: The sentiments on the Bombay Stock Exchange BSE remained subdued on Wednesday due to lack of speculative support and profit...

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MUMBAI, JAN 7: The sentiments on the Bombay Stock Exchange BSE remained subdued on Wednesday due to lack of speculative support and profit-taking at the higher level. The Sensex lost 36 points.

Resuming easy, share prices moved widely on alternative bouts of buying and selling to finish with small loss. The BSE sensitive index started at 3715.38 points, and touched the day8217;s high of 3745.71 points, but on increased selling, the Sensex dropped sharply to 3658.95 points and finished at 3683.31 points as compared to the previous level of 3719.62 points.

Brokers said the sentiment was affected mainly on reports of weak trend in the Asian market. The announcement by the BJP that the party would restrict FIIs for three years also affected the sentiments while the fall of Indian currency against dollar also affected the trading sentiment.

Of the total business of Rs 894.23 crore, ITC remained the most active scrip with a turnover of Rs 259.45 crore, followed by SBI Rs 125.14 crore, Tata Tea Rs 116.62 crore and Reliance Rs 72.07 crore. ITC lost Rs 6.50 to 612.50 on selling pressure while SBI remained subdued at Rs 247.50, Telco lost Rs 3.50 to 291.25.

On the National Stock Exchange, prices of select pivotals recovered on the first day of the current settlement. The NSE-50 index resumed better 1079.95 and rallied to 1097.30. Later, it dropped to close at 1082.40, still showing a moderate gain of 3.25 over the last close of 1079.15. The NSE recorded a total turnover of Rs 1315.06 crore.

 

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