Old economy stocks lead Sensex fall

MUMBAI, SEPT. 28. Led by Hindustan Lever and Reliance Industries, old-economy shares suffered a sharp setback sending the Sensex down by about 97 points on the Bombay Stock Exchange today following a heavy sell-off by operators influenced by negative impact of impending price hike in petroleum products.

Had there not been a rise in index-heavyweight new-economy shares such as Zee Telefilms and Satyam Computer, the Sensex would have been suffered a lot. At the final point, the BSE sensitive index closed at 4067.38 against yesterday's close of 4164.10, a loss of 96.72 points or 2.32 per cent.

Dealers said wary operators decided to play safe by offloading part of their holdings on the penultimate day of current settlement and ahead of petroproduct price hike.The Sensex resumed slightly easier at 4155.71 and immediately it touched a high of 4184.61. Later, it gradually declined to the day's low of 4043.67. The BSE-100 index dipped by 47.97 points to 2067.58 from 2115.55.

- PTI

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Section  : Business
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