Business Standard

Market Bearish On War Fears

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BUSINESS STANDARD

The market turned bearish this week on a combination of profit-taking in tech stocks and continuing war fears. A late rally on Friday masked the true extent of bearishness. The Sensex closed at 3362.88 down a nominal 0.4 per cent after recovering from sub-3300 levels. The Nifty closed down by 0.7 per cent while the Defty reflected a tough ride for the rupee by losing 0.9 per cent.

The broad-based BSE 500 lost 1.6 per cent. Volumes expanded as prices fell, which is a danger signal. Breadth was very poor

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First Published: Jan 14 2002 | 12:00 AM IST

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