Sensex closes 438 points lower

Sensex closes 438 points lower
PTI
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First Published: Fri, Oct 19 2007. 04 13 PM IST
Updated: Fri, Oct 19 2007. 04 13 PM IST
Closing
Mumbai: Sensex ended down by 438.41 points at 17,559.98 today on sustained selling by funds.
The wide-based National Stock Exchange index Nifty also tumbled by 135.70 points to close at 5215.30.
Afternoon
Mumbai: Sensex nosedived by over 635 points at midday on the Bombay Stock Exchange today to its lowest in last two weeks, as foreign funds turned net sellers after a government proposal to curb capital flows.
The 30-share index which had shed over 717 points yesterday, sank further by 635.19 points and was ruling at 17,360.64 at 1300 hrs on heavy selling in index-related stocks.
The Securities and Exchange Board of India (Sebi)will decide on 25 October how to curb the 88-billion dollar investments made by unregistered investors, including hedge funds, in Indian stock markets. This level was last seen on 4 October.
The National Stock Exchange index Nifty also fell by 223.55 points at 5,155.10. Nifty futures for October fell 1.4% to 5,245.
The foreign investors sold a net Rs17.8 billion on shares on Wednesday when the market experienced the largest intraday fall of over 1,700 points, the first day of selling in 19 days.
Opening
Mumbai: Sensex continues to be in the bear grip, dipping by over 454 points in the early morning trade on the Bombay Stock Exchange today on sustained panic selling by funds.
The 30-share index which had crashed by over 717 points in previous day trade to close at 17,998.39, lost 454.41 points to touch 17,543.98 in the first five minutes of trade this morning.
Similarly, the wide-based National Stock Exchange’s Nifty also remained weak and dropped by 69.20 points at 5,281.80.
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First Published: Fri, Oct 19 2007. 04 13 PM IST
More Topics: Stocks | Shares | Markets | Fund Selling | Bear |