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Pivotals falter after firm start as FIs sell; Sensex down 12 points to 2990.44

After a firm start, pivotals suffered a moderate setback on speculative selling pressure from institutional investors at the Bombay Stock Exchange on the first day of the current settlement today.

Barring a few selected scrips like Satyam Computers, Raymond, Nestle, Novartis and Cadbury, equities registered a decline on selling pressure, dealers said and added that pharma and infotech shares also reported significant decline.

Satyam was in the limelight on reports that General Electric would tie up with Satyam Info, a subsidiary of Satyam Computers. Raymond also witnessed gains on speculative buying, dealers said. Crompton Greaves too gained marginally on good buying support.

Reflecting the trend, the 30-scrip BSE Sensex opened at 3013.58 points, touched the day's high of 3029.15 points, fell below the psychological barrier of 3000 points to touch day's low of 2982.21 and closed at 2990.44 points, showing a net loss of 12.10 points from the previous close of 3002.54 points.

The broad-based BSE-100 index declined by 4.89 points to 1322.79 points as against the previous close of 1327.68 points.

The losers were Reliance, Zee Telefilms, Telco, Voltas, Grasim, Smithkline, Pentafour Software and Glaxo.

The gainers were Cadbury which rose by Rs 3.75 to Rs 447, Crompton Greaves Rs 1.20 to Rs 40.75, Dabur India Rs 3.50 to Rs 411.50, Hero Honda Rs 1.25 to Rs 551, Raymond up by Rs 3.05 to Rs 84.85.

The losers included Asian Hotels which dropped by Rs 3.50 to Rs 153, BSES Rs 1.90 to Rs 144, Castrol Rs 10.50 to Rs 665.75, Colgate Rs 1.70 to Rs 188.40, Dr Reddy's Rs 5.75 to Rs 452.50, Glaxo Rs 19.50 to Rs 612, Grasim Rs 4.90 to Rs 165, Hindustan Lever Rs 18.25 to Rs 1725, Hindalco Rs 9.75 to Rs 519.25, India Hotel Rs 3.50 to Rs 373, Pentafour Software Rs 17.25 to Rs 481, Reliance 80 paise, to Rs 118.50, Tisco Rs 2.60 to Rs 100.50, Zee Telefilms Rs 14.75 to Rs 538.25.

The BSE-200 and Dollex indices down by 1.20 and 0.47 points to 306.89 and 119.97 points from the previous close of 305.69 and 119.50 points respectively.

Total turnover on the BOLT system stood at Rs 11.18 billion. Satyam Computers topped the list by registering highest turnover of Rs 3.03 billion, followed by Pentafour Software Rs 1 billion, ITC Rs 930.6 million, SBI Rs 696.9 million and Zee Telefilms Rs 678.8 million.

Other actively traded scrips were Telco (Rs 485.5 million), Reliance (Rs 479.6 million), Tisco (Rs 323.9 million), Glaxo India (Rs 258.2 million), Infosys Technologies (Rs 188.8 million), Castrol India (Rs 178.3 million), BHEL (Rs 148.5 million), L&T (Rs 142.6 million), Bajaj Auto (Rs 142 million) and Raymond Wool (Rs 137 million).

UNI

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