Equities continue to drift down

MUMBAI, AUG. 11. Equities continued their downward march pushing the Sensex further down by over 61 points in lacklustre activity on the Bombay Stock Exchange today on sustained selling pressure from speculators as also in the absence of any support from institutional investors.

With foreign institutional investors, the principal driving force, withdrawing from the market, operators preferred to square up their outstanding positions in view of the last day of the current settlement.

The FII reportedly had adopted a wait-and-watch policy in the light of sliding Indian rupee that crashed to an all-time low of Rs. 46.04/08 a dollar during early trading.Infotech, communication and entertainment stocks were at the receiving end as speculators lightened their commitments in these sectors in line with the negative FII activity, dealers said.

The BSE-30 share sensitive index which remained in negative territory throughout, opened moderately lower at 4236.55 and later moved in a narrow range of 4250.63 and 4176.47 before closing at 4192.00 against yesterday's close of 4253.23, netting a loss of 61.23 points.

- PTI

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Section  : Business
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