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Sensex slips 36 points as US interest rates rise

The FIIs, who had extended tremendous support to the domestic market over the last fortnight, taking it up more than 800 points, were absent from the market for the major part of the day today after news of the likelihood of American banks increasing interest rates hit the market.

The Asian markets dipped suddenly and its effects were seen at the BSE as well, with the Sensex closing lower in the beginning of a new week after two whole weeks of upsurge.

"The FIIs stayed away from the market for the day and were seen only during the fag-end when they bought a few SBI [State Bank of India] shares boosting the Sensex which had eased below the 3900 points mark during the day," leading dealers said.

Meanwhile, shares of the Unit Trust of India were bought at the buying counters by locals, who were otherwise silent, obviously dampened by the poor Asian market sentiment.

Reflecting the trend, the 30-scrip Sensex opened higher than its previous close at 4091.19 points and touched the day's high of 4113.42 points. But it failed to sustain that level and fell to 3888.81 points before closing for the day at 4039.39 points, a loss of 36.08 over its previous close of 4075.47 points.

The broad-based BSE-100 index also started at 1756.28 points, higher than its previous close, but did not maintain its supremacy. It touched the day's high of 1767.58 points and a low of 1683.22 points before closing at 1731.14 points, a loss of 18.19 points.

The BSE-200 and Dollex also closed lower at 392.09 and 152.74 points, registering falls of 2.86 and 1.04 points from their previous closing figures of 394.95 and 153.78 points, respectively.

There were 240,051 trades today in 1417 scrips. The volume of shares traded was 79.1 million while the day's turnover was Rs18.06 billion.

In Group A, ITC was the highest traded scrip with a total turnover of Rs1.998 billion, followed by Reliance (Rs1.826 billion), SBI (Rs1.768 billion), Pentafour Software (Rs1.613 billion), Satyam Computers (Rs922.9 million), Ranbaxy Laboratories (Rs829.6 million), Tata Tea (Rs661.1 million), L&T (Rs625.1 million), Tisco (Rs580.2 million), Zee Telefilms (Rs471.2 million), BPL Ltd (Rs460.5 million), Telco (Rs405 million), MTNL (Rs313.2 million), ACC (Rs308.4 million) and Infosys Technologies (Rs236.7 million).

UNI

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