Sensex loses 727 pts on last day of fiscal

MUMBAI: The Bombay Stock Exchange Sensex fell 727 points on Monday, the last day of the current fiscal, on selling by funds in stocks mainly in IT, banking, reality and capital goods sectors.
    
The 30-share index which recorded number of major falls since January this year, dropped by 726.85 points to 15,644.44 on the last day of 2007-08.
    
Infosys Technologies and other software exporters drove down the key index to its biggest fourth-quarter loss. Infosys, the second-largest exporter of software services, declined the most in more than five months on concern that the Reserve Bank might allow the rupee to appreciate to contain inflation.
    
Sensex is poised to post its worst performance ever for the fourth quarter ended on Monday. It might post the steepest fourth-quarter decline in Asia excluding China, market experts said.
    
The wide-based National Stock Exchange index's Nifty dropped by 207.50 points to 4,734.50 with almost all the 50 index-linked stocks ending with losses.