Sensex plunges after high course

After a week-long rally, share prices plummeted on the BSE on aggressive selling by both foreign and domestic funds coupled with squaring up of positions by operators. The BSE sensitive index witnessed wild fluctuations, touching an intra-day high of 3,812.31 point’s before crashing by 356.43 points to close at 3,455.88 points. The NSE-50 was in no way different. Opening at 1,064.05 points, the index touched an intra-day high of 1,085.75 before closing at 1,009.40 points, shedding 32.40 points over the previous close.

SEs told to monitor scrips

The SEBI has instructed all stock exchanges to closely monitor the price movements in scrips, the position built by stock brokers and to strictly enforce the daily mark-to-market margin system on a continuous basis. The exchanges have also been told to go ahead and impose special margins to check the volatility in stock prices. The positions built up by stock brokers in relation to their capital.

Datta Samant shot dead

Trade union leader Dr. Datta Samant was shot dead this morning by unidentified gunmen near his residence in Powai. The post mortem is on at the Sir J. J. Hospital, where the body was taken by 3 p.m. Members of the family gathered at the hospital said that Dr. Samant’s body would be taken to his first home at Pant Nagar. The funeral is scheduled for tomorrow morning, they said. According to Mr. R. S. Sharma, Joint Commissioner of Police (Crime), the police have not yet zeroed in on the prime suspects. It is clear that most companies which had strained relations with the late union leader would be on the watch list.

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