News

BSE sensex crashes over 69 points
Led by ITC, pivotals tumbled on the Bombay Stock Exchange (BSE) on Tuesday following selling spree by foreign institutional investors (FIIs) coupled with heavy bull liquidation, pushing the BSE sensex down by over 69 points to close below the 3600 mark at 3573.21 points. Basically, the bull operators who had long-term positions in view of high budget expectations are pressing sales in the index based scrips. The National Stock Exchange (NSE) also forced the players to square off their positions, a leading BSE broker said adding that the FIIs also sold heavily at select counters. The market displayed nervous mood in view of hike in petrol prices, could not settle down even after the government's decision to reduce the hike per litre, marketmen said. Tobacco giant ITC, Bajaj Auto, Reliance, Telco, Tisco and Hind Lever registered heavy losses. Mirroring the bearish trend, the BSE sensitive index opened at 3634.23 points, touched the day's high of 3646.36 points, fell below the psychological barrier of 3600 mark and touched the day's low of 3540.61 points and finally ended at 3573.21 points, showing a net loss of 69.47 points as against the previous close of 3642.68 points.