FIIs sell another 2708 cr, trigger 132 pts meltdown on Sensex

Mumbai, Mar 9: The stock markets came under severe pressure this morning as a result of Foreign Institutional Investors(FIIs) selling another Rs 2,708 crore worth of equity in the Future&Options(F&O) markets on March 8.

Bombay Stock Exchange (BSE) 30 share sensitive index (Sensex) dipped by 132 point to 10,376 points this morning after opening quite bullish 25 points up at 10,533 points as against the last close of 10,508 points.

The net selling by the FIIs in Nifty Futures was Rs 2100 crore on March 8 out of Rs 2708 crore selling in F&O side on March 8.

The Sensex was however regaining some losses trading at 10,427 down by 81 points at 1107 hrs.

The 50-share National Stock Exchange(NSE) S&P CNX Nifty index was trading also down by 33 points at 3,083 points at 1112 hrs.

The top Sensex losers were BHEL, Hindalco, Bharti Televentures, Hero Honda, Ranbaxy, ITC, HDFC, Cipla, LArsen&Toubro and Tata Steel.

The stocks gaining this morning were Gujarat Ambuja Cements, ACC, Infosys, NTPC, Satyam Computers, Dr Reddy's Lab, and Reliance Industries.

UNI