Sensex dips 81 pts

Mumbai, March 23 | Updated: Mar 24 2005, 06:22am hrs
The Sensex continued its losing streak on Wednesday, falling 80.99 points, or 1.24%, to close at 6,454.46. It has lost exactly 500 points since it touched its all-time high of 6,954.86 in intra-day trades on March 9. Stocks across the board witnessed heavy selling in late trades as seen on Tuesday. The broader 50-share benchmark S&P CNX Nifty also shed 35.2 points, or 1.71%, to end the session at 2,026.4.

The market breadth was extremely negative, as 1,847 scrips declined and 535 scrips advanced, while 61 remained unchanged. Turnover recorded on The Stock Exchange, Mumbai (BSE) was Rs 2,740.28 crore, as compared to Tuesdays turnover of Rs 2,067.77 crore.

The National Stock Exchange (NSE) recorded a turnover of Rs 5,514.03 crore as against Tuesdays Rs 4,143.79. Foreign institutional investors (FIIs) turned net sellers once again on Tuesday, withdrawing investments worth Rs 42.5 crore in equities. Sandeep Shenoy, strategist, Pioneer Intermediaries said: Besides margin pressures, year-end considerations have also taken their toll on the markets. The liquidity problem has added to it. The markets, however, should recover anytime soon.