gundeep
18-10-2007, 07:48 PM
Equities were beaten down in a volatile session on Thursday as the p-note issue kept foreign investors at bay. Frontline shares bore the brunt of the fall with banking and realty as the biggest losers.
Foreign investors, who have been key drivers of the market in its rally from 15000-19000 have turned sellers following SEBI’s recent stance on investment through p-notes.
FIIs sold equities worth Rs 2012.06 crore on October 17, according to provisional data on NSE.
The National Stock Exchange’s Nifty closed 208 points or 3.75 per cent lower at 5351, slipping from a high of 5736.8 to a low of 5269.65 intra-day.
The Bombay Stock Exchange’s Sensex closed down 3.83 per cent or 717.43 points at 17,998.39. From an all-time high of 19,198.66 early in the session, the index touched a low of 17,771.16 before the close.
Among the front stocks ACC (down 13.86%), Reliance Energy (9.71%), State Bank of India (8.26%), Bharti Airtel (7.67%), ICICI Bank (6.99%), NTPC (5.57%) and Hindalco Industries (5.56%) were the biggest losers.
Foreign investors, who have been key drivers of the market in its rally from 15000-19000 have turned sellers following SEBI’s recent stance on investment through p-notes.
FIIs sold equities worth Rs 2012.06 crore on October 17, according to provisional data on NSE.
The National Stock Exchange’s Nifty closed 208 points or 3.75 per cent lower at 5351, slipping from a high of 5736.8 to a low of 5269.65 intra-day.
The Bombay Stock Exchange’s Sensex closed down 3.83 per cent or 717.43 points at 17,998.39. From an all-time high of 19,198.66 early in the session, the index touched a low of 17,771.16 before the close.
Among the front stocks ACC (down 13.86%), Reliance Energy (9.71%), State Bank of India (8.26%), Bharti Airtel (7.67%), ICICI Bank (6.99%), NTPC (5.57%) and Hindalco Industries (5.56%) were the biggest losers.