SENSEX continues downward trend

The BSE benchmark, Sensex continued its downward trend on Monday shedding over 270 points and slumping to its 10-month low of 14,293.32 on selling pressure after Morgan Stanley lowered its December 2008 estimate for Sensex to 13,224 points from the earlier forecast of 14,571.29.

The 30-share BSE barometer, which lost 1,125 points in the past three sessions, fell further by 277.97 points at 14,293.32, a level last seen on August 24 last year.

The key index dipped to the day’s low of 14,163.45 and a high of 14,510.55 points.
National Stock Exchange’s index Nifty fell below psychological level of 4,300 by losing 81.15 points at 4,266.40. It touched the day’s low of 4225.50 and a high of 4351.15 points.