Rally snapped on FII sales
STOCK REPORT
| Dealers said Thai central bank's decision on Monday to impose curbs on foreign fund inflows gave institutions, which are trying to prop up their net asset values ahead of year-end, a "visible" reason to book profits. |
| Other key Asian markets ended down 1-2 per cent due to the sell-off. |
| "A lot of FIIs have turned jittery on emerging markets following Thailand's decision. The losses we saw today were largely a reaction to this," Janish Shah, head of research at Networth Stock Broking, said. |
| Cautious sentiment ahead of the expiry of derivatives contracts on December 28 also pushed indices down, brokers said. |
| The Bombay Stock Exchange Sensex ended at 13382.01, down 349.08 points or 2.5 per cent from Monday. Intraday, it moved between 13237.39 and 13748.62. |
| The National Stock Exchange Nifty ended at 3832.00, down 96.75 points or 2.5 per cent. |
| Intraday, it moved between 3783.45 and 3931.90. |
| Turnover on both the exchanges together was roughly Rs 13,100 crore, against Rs 12,000 crore on Monday. |
| The CNX Midcap ended down 1.4 per cent and S&P CNX 500 Index ended down 2.2 per cent. |
| On BSE, declines outnumbered advances 2:1. |
| The Bank of Thailand on Monday imposed fresh capital controls on foreign investments in the country, in a bid to curb the surge in Thai currency baht. |
| It has ordered banks to lock up 30 per cent of new foreign currency deposits above $20,000 for a year. The move is aimed at protecting Thai exports. |
| These deposits carry no interest and a third of the funds will be forfeited if they were withdrawn before one year. |
| The benchmark stock exchange of Thailand ended down 16 per cent. |