05-19-2006, 07:49 PM
<b>Sensex sees ebb and flow, FIIs press panic button</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Stock markets continued to bleed for the second successive day on Friday, losing another 452 points on top of Thursday's mayhem as investors lost at least Rs 300,000 crore due to panic selling since Thursday.
<b>After a plunge of 826 points, the biggest fall in the history of the market on Thursday, the market vacillated from one end to the other but closed the day lower with the Sensex shedding about 1,300 points (11 per cent) in two days, </b>virtually showing no positive effect in the wake of Finance Minister P Chidambaram's clarification on taxing FIIs.
<b>The situation was further compounded by the demand for long-term capital gains raised by ruling UPA's ally CPI(M).</b>
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<b>After a plunge of 826 points, the biggest fall in the history of the market on Thursday, the market vacillated from one end to the other but closed the day lower with the Sensex shedding about 1,300 points (11 per cent) in two days, </b>virtually showing no positive effect in the wake of Finance Minister P Chidambaram's clarification on taxing FIIs.
<b>The situation was further compounded by the demand for long-term capital gains raised by ruling UPA's ally CPI(M).</b>
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