Sensex ends 54 points lower; industrial data trim losses
Mumbai: A fag-end recovery trimmed the day's losses on buying revival and the BSE benchmark Sensex today closed with a moderate loss of over 54 points. The Sensex, which plunged to touch the day's lowest level of 14,701.05, rebounded to close with a loss of 54.43 points at 15,020.16 as industrial output data released this afternoon was better than expected. the stock chart is given on left.
The National Stock Exchange index Nifty fell by 13.85 points at 4,457.50, after touching the day's low of 4,359.40 points.
Initially, the market remained bearish on aggressive selling by funds on concerns that the weakest monsoon in seven years will slash farm output and spending.
However, investors and major players, judging the three days' constant fall was overdone, preferred to purchase fundamentally strong shares at lower levels.
