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Sensex falls 89 points in early trade

Press Trust Of India
Feb 26, 2009 at 10:45am IST

Mumbai: The benchmark Sensex fell by 89 points in early trade today as speculators indulged in squaring up their positions in view of monthly expiry in the

derivatives segment.

The Bombay Stock Exchange barometer, which had gained 80.50 points yesterday, moved down by 88.66 points to 8,813.90 points in early trade after opening a shade higher at 8,905.56.

SEE SAW: The market has been see-sawing, much to the angst of the traders.

Similarly, the 50-share National Stock Exchange's index, Nifty, declined by 23.55 points to 2,738.95. Marketmen said squaring-up of pending positions by speculators as today being the last session of current month's expiry in the derivatives segment mainly led to a fall in stock prices.

Stocks of pharma giant Ranbaxy Laboratories witnessed massive selling and plunged by 13.58 per cent to Rs 179.10 after reports that the US Food and Drug regulator has charged the firm with falsification of data and test results.

Nearly 14.50 lakh shares of Ranbaxy changed hands in early trade on the bourse.

Other major losers were Reliance Industries, down by 0.50 per cent to Rs 1,259.65, State Bank of India by 0.80 per cent to Rs 1,029.40, ICICI Bank by 1.98 per cent to Rs 833.75, Tata Consultancy by 0.17 per cent to Rs 479. Realty major DLF Ltd fell by 2.85 per cent to Rs 150.20.

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