BIG GETS BIGGER, Sensex swings 898pts

After a huge 888 points intra-day swing yesterday, the Sensex today swung a huge 898 points, before ending with a huge loss for yet another day.

The index began the day on a positive note, by opening with a huge positive gap of 159 points 11,550. The index soon zoomed to a high of 11,697, but could not hold gains for long as it came tumbling down into the red. The index swung nearly 700 points in the first one-hour of trades.

The index, thereafter, rebounded into the positive zone and stablilized somewhat. However, selling gained momentum in the late noon deals as exchanges sold shares of brokers who could not meet margin requirements.

The index broke the 11,000-mark to touch a low of 10,799 - down 898 points from the day's high. The Sensex finally closed with a huge loss of 4% (453 points) at 10,939.

The index thus shed 10.5% (1,279 points) in the last two trading days, and is down 11% (1,346 points) during the week.