Sensex sown 194 points

Mumbai, Oct 30 (UNI) The bombay Stock Exchange (BSE) sensitive index, after touching a new high, dipped by 194.16 points to close at 19,783.51, in a volatile session today.

The benchmark Sensex started with a gain of more than 100 points at 20,103.44. It fluctuated in a broad range of 19,749 and 20,238 levels in intra-day deals, reacting to Reserve Bank of India's (RBI's) mid-term Credit Policy announcement, dealers said.

Similarly, the broader base National Stock Exchange (NSE) Nifty index settled at 5868.75, more than 100 points down from its day high of 5976.00, netting a loss of 0.63 per cent, 37.15 points low.

In intra-day trade today, the Nifty touched a low of 5833.90.

The benchmark indices Sensex and the Nifty raced to new all-time highs today. However, the market found the going rather tough after RBI announced the hike in CRR by 50 basis points.

According to the dealers, the market breadth was negative. On BSE, only 6 of the 30 members of the Sensex pack traded with gains.

Auto, banking and IT stocks were weak. Capital goods, metal stocks gained, while Reliance Industries lost ground. Market breadth was negative. Most of the Asian markets were trading lower, while European markets were subdued.

Auto stocks were among the major losers in the sell-off that saw the Sensex plunging to a low of 19,694.85, a massive drop of around 543 points from its new all-time high, dealers said.

MORE UNI