Selling pressure downs sensex
Mumbai: Benchmark indices suffered a sever setback, led by the sharp fall in the heavy-weights like Satyam Computer, Zee Tele, Dr Reddy’s Laboratories and HLL, on July 18. The BSE Sensex lost close to 49 points, while the S&P CNX Nifty was down by 11 points.

Opening positively at 3434.94, the Sensex improved further to the day’s high of 3446.18 on early buying support, prompted by a smart rally in the US markets. However, lack of support and continuous selling had its impact on the sentiment and the benchmark gradually moved downwards to close at 3383.41 against Tuesday’s close of 3431.93, registering a net loss of 48.52 points. Nifty followed suit and closed at 1091.95 compared to the previous close of 1103.10.

Foreign Institutional Investors (FIIs), were net buyers and are said to have picked up shares of Infosys, Wipro and L&T in small quantities.
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