The Sensex shed 111.92 points to close at 6,308.54 yesterday.
The Nifty slipped below the 2,000-level.At the end of
the day, the 50-stock index lost 33.5 points and closed
markets were buoyed by the liquidity provided by FIIs,
especially over the last few months. With the dollar strengthening
and FIIs recasting investment strategies for 2005, there
has been a dip in FII inflows.
fall in the markets for two consecutive days last week
also weakened investor sentiment, according to analysts.
Investors are booking profits as the market has suddenly
changed gears from being confidently bullish to unpredictably
start of the corporate earning seasons is also leaving
the market jittery. Sensex heavyweight Infosys Technologies
lost Rs56.75, or 2.77 per cent of its value during today's
trade on speculation that the company's result may fall
short of market expectations.
markets have also had a weak opening with most eastern
markets' indices closing lower.