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BSE undergoes correction as weak NSE trading affects sentiment; Sensex dives 80 points, 3353.22

The last day of settlement at the National Stock Exchange affected the market in a heavy way as the 30-share Sensex on the Bombay Stock Exchange fell by a whopping 79 points, after nearly four days of notable upsurge.

Equities fell sharply as bull operators busied themselves in squaring up their positions after reaching an overboard position since last week.

Leading marketmen said that commendable business done since last week had boosted the Sensex but today bull liquidation at the NSE resulted in a week trend, pushing down the Sensex sharply.

The nominal participation from FIIs and general selling on the part of the locals further added to this downtrend and the Sensex once again dipped to as low as 3319 points, only to recover marginally towards the fag end.

''There was tremendous selling pressure from the UTI as compared to the marginal buying of Satyam shares from overseas investors which did not contribute much in the market activity today,'' marketmen added.

The BSE-100 index opened weak at 3369.96 points and due to the overall negative trend, could not even rise to cross the yesterday's close to register the day's high of 3410.67 points. It touched the day's low of 3319 points before finally closing at 3353.22 points recording a huge slide of 79.99 points at the end of the day.

UNI

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