Bears continued to rule the roost in afternoon trade. The BSE 30-share Sensex was down 216.26 points, or 2.43%. Weak global markets weighed on the domestic bourses. Trading in US index futures indicated the Dow could slide 93 points at the opening bell on Monday, 2 March 2009, also weighed on sentiment.
Yet, the market was off the day's lows as fears of heavy selling by foreign funds eased to some extent as a report showed neither foreign institutional investors' (FIIs) nor domestic funds' selling had pulled the market lower at the onset of the trading session. Sensex was off close to 30 points from the day's low.
Banking, IT and metal stocks led the decline on the domestic bourses today, 2 March 2009. Index heavyweight Reliance Industries (RIL) was down after its board approved a swap ratio for merger of Reliance Petroleum (RPL) with the company, with the merger ratio being more favourable to RPL. But auto stocks gained on jump in February 2009 vehicle sales of Maruti Suzuki and Hero Honda Motors.
Monday, March 2, 2009
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