Sensex plunges further by 113 pts on heavy selling

By agencies   |   Friday, 28 October 2005, 07:00 Hrs
Printer Print Email Email
MUMBAI: The Sensex continued to fall sharply for the third straight session today and plunged by 113 points to end below the 7,700 levels at 7685.64 on the Bombay Stock Exchange due to frantic selling following withdrawal of FIIs support.

The Bombay Stock Exchange (BSE) Benchmark 30-share Index (Sensex), after a marginally weak start at 7,795.03, nose-dived to a low of 7,656.15. Later, it recovered marginally and ended at 7,685.64, however, showing a steep fall of 112.85 points or 1.45 per cent over the previous close of 7,798.49.

With today's fall, the sensex has already lost a whopping 1,136.20 points over the high of 8,821.84 recorded on October five.

Shares met with frantic selling by nervous operators as FIIs resorted to heavy profit selling in majority of the index heavyweights, which brought the sensex down steeply.

Technical analysts said the 7,800 level was a crucial support and since it was already broken yesterday, one could expect the market to fall further.

Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..