Sensex dips below 4900 mark

MUMBAI: Key share indices dipped sharply for the second consecutive session today, amid fears of the foreign institutional inflow petering out, as the current calendar year draws to a close.

The BSE`s 30-share Sensex closed below the 4900-mark at 4,861.19, down 87.97 points, or 1.78 per cent.

Bharti Tele-Ventures, Hindustan Petroleum Corporation, Hindustan Lever and ITC were the only gainers on the Sensex today.

The NSE`s 50-share S&P CNX Nifty closed at 1550.45, down 29.55 points, or 1.87 per cent.

The average daily foreign institutional inflow witnessed a dip during the last five trading sessions. On November 12, FIIs were net buyers in equities to the tune of Rs 56.6 crore, or $12.5mn, compared to Rs 146 crore, or $32.2 mn, on November 11 and Rs 232.9 crore, or $ 51.3 mn, on November 10.

Equities were also under pressure, after the National Stock Exchange (NSE), on November 13, slapped ad-hoc additional margins on brokers, with large exposures in the futures & options (F&O) segment.

The broader market, which rallied sharply earlier this week, also came in for some profit booking. Losers thrashed gainers 1309: 549, across categories at the BSE today.

Shares of Jindal Iron & Steel Company Ltd (JISCO) led the BSE A group gainers, after the company`s board, on November 13, approved its merger (excluding the investment division) into Jindal Vijaynagar Steel Ltd (JVSL). Meanwhile, shares of JVSL dipped at the BSE in early trades.

I-flex Solutions closed higher today, after Morgan Stanley Capital International (MSCI), on November 13, added the share to the MSCI Standard Index Series.

Source: IRIS