Sensex down 112 points
By Our Market Bureau | 11 Jan 2005
Mumbai:
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
at 1982.
The 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.
The 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 volatile.
The 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.
Global markets have also had a weak opening with most eastern markets' indices closing lower.
