Bombay slips

PUBLISHED : Tuesday, 21 January, 1997, 12:00am
UPDATED : Tuesday, 21 January, 1997, 12:00am

Bombay shares retreated by the close yesterday as lack of follow-through buying from foreign funds prompted speculators to unwind positions in pivotal stocks, dealers said.

The BSE Index fell 32.86 points to 3,389.49.

The dealers said high carry-forward rates - the charge of carrying transactions from one settlement to another - weighed on the minds of market participants.

Carry-forward rates leapt to an annualised 40-45 per cent on Saturday against 15-17 per cent a week ago.