Sensex sheds another 76 pts in sustained volatility Tuesday, November 22 2005 17:32 Hrs (IST) - World Time -
Mumbai:
The sensex today (Nov 22, 2005) shed another 76 points in highly volatile session, extending its losses to second straight day as Foreign Institutional Investors (FIIs) and operators focused their attention to roll-over positions ahead of expiry of derivatives contract.
Discounting reports that the Left parties have agreed to consider the Government's proposal to sell small stake in select profit-making non-navratna public sector enterprises, investors largely concentrated on squaring up long outstanding positions in the Futures and Options before November contract came to an end on Thursday.
The Bombay Stock Exchange (BSE) Benchmark 30-share Index (sensex) opened moderately down at 8602.82 and later moved erratically in a 146-point range between 8664.46 and 8518.18 before ending the day at 8534.97 as against yesterday's (Nov 21, 2005) close of 8610.74, a net loss of 75.77 points or 0.88 per cent.
The sensex had attempted a smart rally and even stayed in a positive terrain for a brief period during midsession before falling back sharply in the concluding one hour.
The sentiment was also affected by discouraging trend in Asian markets.
FIIs and operators were believed to be heavy sellers in blue chip shares while mutual funds made selective purchases.
Metal, Oil and PSU stocks suffered a sharp setback while Consumer Durable shares attracted fairly heavy buying support.
