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Pivotals slip, small-time shares gain; Sensex crashes 75 points to 3682.69 on SEBI's directive to BSE chief to quit

Share prices crashed at the Bombay Stock Exchange following heavy unloading by bull operators and institutional investors, resulting in a major decline of 75 points in the BSE Sensex amidst volatile trading today.

According to marketmen, rumours regarding resignation of BSE president badly affected the market sentiment. However, neither the Securities and Exchange Board of India nor the BSE confirmed the rumour.

Analysts attributed the fall to a technical correction while some of the brokers said profit-taking on selling pressure was the reason.

Barring a few small-time scrips like Wartsila, Sun Pharma, Amararaja Batteries, Gulf Oil, Parry's Confectionary, Ravalgaon Sugar, almost all the pivotals reported moderate to major decline on speculative selling pressure, dealers said.

Reflecting the downtrend, the 30-scrip BSE Sensex opened at 3768.91 points, touched a day's high of 3772.95 points, fell sharply by over 160 points and touched the day's low of 3618.60 points, before closing at 3682.69 points, showing a net loss of 74.81 points from the previous close of 3757.50 points.

The broad-based BSE-100 index declined by 33.57 points to 1619.85 points as against the previous close of 1653.42 points.

Total turnover on the BSE stood at Rs 16.32 billion. Satyam Computers has registered the day's highest turnover of Rs 3.13 billion, followed by Pentafour Software Rs 2.26 billion, ITC Rs 1.41 billion and SBI Rs 783.2 million.

Other actively traded counters were Tata Tea (Rs 630.6 million), Reliance (Rs 563.3 million), MTNL (Rs 517.4 million), Zee Telefilms (Rs 516.3 million), Telco (Rs 513.2 million), Ranbaxy (Rs 442.1 million), Infosys Technologies (Rs 354.6 million), L&T (Rs 337.9 million), BHEL (Rs 332.4 million), Sterlite (Rs 327 million) and Bajaj Auto (Rs 300 million).

The market at the BSE will remain closed tomorrow on account of Sri Rama Navami holiday.

UNI

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