Auto stocks drive Sensex down 70 pts

Auto stocks drive Sensex down 70 pts
PTI
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First Published: Thu, Jun 07 2007. 04 34 PM IST
Mumbai: The benchmark Sensex fell for the second day in a row on the Bombay Stock Exchange on 7 June 2007 with funds selling auto, banking and technology shares, pushing the index down by about 70 points.
The Sensex, which plunged nearly 280 points the previous day, declined further by 69.75 points at 14,186.18 after moving between 14,362.58 and 14,139.09 points.
Marketmen said there were less buying of vehicles after a rise in interest rates, which was further fuelled on reports that car and two-wheeler makers have cut production.
They said firming rupee against dollar also influenced trading in information technology stocks, led by Infosys, as it might effect revenue of these companies.
Similarly, the National Stock Exchange index Nifty fell by 18.75 points at 4179.50. It swung between 4230.05 and 4139.30 points.
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First Published: Thu, Jun 07 2007. 04 34 PM IST
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