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Markets in a tizzy; Sensex goes under 4600, on a roller-coaster

The stock markets in India opened on a low note and continued yesterday's plunge.

The Bombay Stock Exchange, India's premier bourse, is being rocked by volatile trading. The BSE Sensex, the 30-share benchmark index, was at 4584 at 13:15 hours IST, down 107 points or 2.28 per cent from Tuesday's close of 4691.

The National Stock Exchange's S&P CNX Nifty was steady in the 1390-1395 level.

The Indian rupee was steady at 43.53 to the US dollar.

Stock brokers said there was selling pressure as foreign institutional investors -- the major operators on the Indian bourses -- tend to keep off the market during the year-end tradings.

However, a sudden bout of buying helped the Sensex to bounce back to 4645 level by 13:45 hours IST, still down 46 points or 0.98 per cent from Tuesday's closing.

The Sensex closed at 4665, the Nifty at 1400 and the rupee at 43.52.

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