Investing Trends

Statesman News Service
MUMBAI, May 26: Pillory and the Sri Lanka rupee persisted with their downward motion today on planetary weak cues and domestic fiscal concerns on business relationship of inflation. The Greater Bombay Stock Exchange and the National Stock Exchange closed today with the Sensex at 16,348.50 points ~ down 301.14 or 1.81 per cent ~ and the Bang-Up at 4,875.05 points ~ down 71.50 or 1.45 per cent. The microscope slide set in as the gap bell rang with grim studies from other Asiatic marketplaces reaching Dalal Street. The Sensitive Index which opened at 16,468.32 points did travel up to 16,498.24 points but steeply drop in the afternoon session to a low of 16,300.88 points. Analysts fear if the current battering of pillory were to go on the 30-share benchmark index might well steal below the 16,000 level. Today the 50-share Bang-Up of NSE slipped below the 4,900 grade which was the last since 16 April. Earlier in the twenty-four hours the Nikkei of Tokio Stock Exchange lost 322.01 points or 2.30 per cent to 13,690.19 points. Hong Kong's Bent Seng was down 586.76 points or two per cent at 24,127.31 points. Singapore's Pass Times also ended 27.70 points down at 3,094.45 points. The marketplaces are wary of rising combustible terms and falling rupee. These two factors have got affected fresh influx of dollar investings in North American Indian equities by foreign institutional investors. The marketplaces had been sustained at higher degrees mainly because of extensive foreign investings which for the twelvemonth 2007 was the peak at $17 billion. This have been contrasted by nett merchandising of $ 3.5 billion equities by the same investors. The Sri Lanka rupee which closed at 42.68 against the dollar last hebdomad started this hebdomad on a weak short letter at 42.72 and slipped additional under pressure level from refineries which bought dollars for their month-end requirements. Most North American Indian oil companies are under cracking pressure level as petroleum terms are opinion supreme and the Union authorities is yet to do up its head on increasing prices. Of the 30 Sensex shares four advanced and 26 declined. A sum of 1.56 crore shares were traded at a turnover rate of Rs 1,093.47 crore. The chief also-rans were Ambuja Cement Rs 96.65 (down 5.38 per cent), BHEL Rs 1,656.10 (down 5.21 per cent), Reliance Com Rs 543.20 (down 5.08 per cent) and ICICI Depository Financial Institution Rs 826.70 (down 4.29 per cent). Infosys stood house increasing by 3.29 per cent at Rs 1,886.40.