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This is an archive article published on January 23, 1998
Sensex loses 38 points
MUMBAI, January 22: Downtrend continued on the Bombay Stock Exchange BSE today on lack of specualtive support and selling pressure by the ...
MUMBAI, January 22: Downtrend continued on the Bombay Stock Exchange BSE today on lack of specualtive support and selling pressure by the foreign institutional investors FIIs. Sensex lost another 38 points. The volume of business remained below normal.
The BSE sensitive index started lower at 3408.67 and dipped further to the intra-day low of 3366.94 before closing at 3380.30 with a net loss of 38.04 points compared to the previous level of 3418.34. The BSE-100 index eased by 17 points to 1472.79 from previous close of 1489.79. Brokers said that the sentiment was further affected due to fresh unloading by the FIIs and lack of speculative buying in view of end-account considerations.
The fall in Hong Kong much followed Hang Seng index by 400 points in the early trade and Indonesian currency crisis added fuel to the fire. The total turnover amounted to Rs 743.99 crore as compared to the previous total turnover of Rs 841.01 crore. ITC has registered the highest turnover of Rs 170.18 crore followed by SBIRs 140.09 crore, Tata Tea Rs 117.54 crore, Castrol Rs 73.46 crore and Reliance Rs 30.71 crore.
On the NSE, pivotals suffered a moderate set back following selling pressure from institutional investors. Reflecting the trend, the NSE-50 opened at 1012.20 and closed at 992.35, showing a net loss of 20.05 points. Dollar NSE-50 Defty index dropped by 17.60 points to 887.10 points. The Midcap index drifted lower by 18.25 points to 1127.60. Total turnover on the exchange was Rs 1008.97 crore.
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