Business | Markets
Sensex falls as investors avoid risk
Indian shares shed 0.3 per cent on Monday after starting more than one per cent higher, as investors grew wary of the US Government's planned $700 billion bailout to end the financial turmoil and lift global economic outlook.
- Reuters
- Published: 23:53 September 22, 2008
Bangalore: Indian shares shed 0.3 per cent on Monday after starting more than one per cent higher, as investors grew wary of the US Government's planned $700 billion bailout to end the financial turmoil and lift global economic outlook.
Sentiment was also dented by a drop in European markets as investors around the world were still grappling with the repercussions of last week's fin-ancial earthquake that levelled Wall Street.
Shares in Reliance Industries ended down 0.7 per cent at Rs2,037.15, erasing gains of 3.7 per cent in opening deals, reflecting the market's soft underbelly.
The stock had rallied early after the company's chairman said on Sunday it would start pumping natural gas from its deep-sea block early next year, putting it on track to earn a quarter of its profit from oil and gas production.
The main 30-share BSE index ended down 0.34 per cent, or 47.36 points, at 13,994.96, after having risen as much as 1.2 per cent early and then slipping 0.9 percent into negative territory.
Satyam Computer Services fell 4.7 per cent to Rs352.75 and Wipro lost 0.6 per cent to Rs414.35.
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