Sensex down,but FIIs continue pumping money

The Sensex fall would have been sharper had FIIs not invested in a big way on Wednesday. Even domestic funds joined the FIIs and accumulated stocks worth Rs 500 crore. On September 17,foreign funds had pumped in over Rs 2,700 crore. A correction was overdue and that is happening. The advantages seem to be already there in the price to a large extent. It is nothing alarming or majorly negative. Its profit-taking, said a dealer. FIIs are looking for more investments in emerging markets following the global economic recovery, said the chief of a foreign mutual fund.

Bharti falls 3.4 per cent

MUMBAI: Bharti Airtel contributed most to the market8217;s losses as it fell 3.4 per cent to Rs 413.40,its lowest close in two weeks,on growing uncertainty over its proposed tie-up with South Africas MTN. The stock has declined 6.6 per cent over the past two days. Bharti said on Tuesday its deal with MTN would comply with the laws in both countries and any required waivers would be sought when appropriate. ENS