Sensex slips by 186.74 pts in closing session

Mumbai, June 24: Extending losses for the fifth straight day, the benchmark index of Bombay Stock Exchange today moved down by 186.74 points to close at 14,106.58, after hitting an intraday low below the 14K level.

Sensex started the day slightly up at 14,313.33 from its previous close of 14,293.32 on some fresh buying and soon hit an intraday high at 14,432.90 but later failed to hold the gains and nose-dived to a low at 13,991.31 as concerns over inflation and possibility of the Apex bank coming out with tight monetary measures, that might trigger outflows.

Meanwhile, the broader based Nifty index of National Stock Exchange shed 75.30 points to close at 4191.10, after hitting an intraday low of 4156.10. Market sentiments were subdued on account of high inflation and uncertainties on the political front. Sensex had plunged by 1590 points while Nifty slid over 431 point in five straight sessions, marketmen observed.

Indian bourses extended losses for the fifth straight day today with the Sensex hitting below the psychologically level of 14K for the first time since late August 2007. However, it recovered from there to settle above that level, brokers said.

The Sensex had shed 6180.41 points or 30.46 pc in the calendar year 2008 so far from its close of 20,286.99 on December 31, 2008 and down by 7100.19 points or 33.48pc from its all-time high of 21,206.77 hit on January 10, 2008.

UNI