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Sensex on a downslide, loses over 600 points

Wednesday 31 May 2006

Press Trust of India

Mumbai, May 31: Under acute selling pressure, the stock market continued to decline right from Wednesday morning and plunged by over 600 points during the first two trading hours as if in sympathy with global meltdown.

The BSE index lost 601.03 points at 10,185.60 at 1145 hrs while the National Stock Exchange index NIFTY dropped by 195.25 points to 2,990.05.

Trading sentiment was affected after foreign funds off- loaded heavily in global markets, amid reports that these funds were withdrawing more than five billion dollar from the emerging markets.

Overnight meltdown in base-metal prices in the London Metal Exchange further fuelled selling in metal shares across the board.

See online : The Indian Express

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