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Indian FIs exert selling pressure; Sensex takes a 55-point dip, 3055.41

Selling pressure from domestic financial institutions at the Bombay Stock Exchange on the last trading day of 1998, led the Sensex to plunge by almost 55 points today.

The benchmark BSE-30 Sensitive Index opened at 3107.73, witnessed a high and low of 3116.34 and 3053.03 and ended at 3055.41, as against the previous close of 3110.33, showing a net loss of 54.92 points.

According to marketmen, foreign institutional investors were by large absent from the market on account of year-end, while local operators were busy squaring their outstanding positions.

Unit Trust of India, LIC and GIC sold some key index- based scrips, marketmen informed.

Reflecting the downtrend, the BSE-100 index ended lower by 25.84 points at 1359.03 from the previous close of 1384.87. The BSE-200 index closed at 318.76, shedding 4.81 points, while the Dollex index ended at 123.04, easing by 1.71 points.

UNI

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