Mumbai, December 04: The Bombay Stock Exchange benchmark Sensex today shed 84 points to close at 17,101.54 points after a strong rally earlier this week, showing signs of consolidation.
Marketmen, however, discarded the fall saying funds are still pumping money. “The fall is not very worrying as the market is not falling in a significant manner despite concerns of high food inflation and withdrawal of stimulus. Also, institutional buyers are putting in money. I feel that going ahead the market would consolidate at the current levels,” said Unicon Financial Chief Executive Gajendra Nagpal.
The 30-share index swung wildly in alternate bouts of buying and selling after a particularly weak opening. The barometer hit the intra-day high of 17,291.83 points but could not maintain the steam on selling pressure due to unexpected drop in the US jobs data for October.
The key index finally ended the day at 17,101.
–Agencies