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Sensex reflects Hong Kong's drop

According to brokers, a heavy fall in the Hang Seng index of Hong Kong affected sentiments in the country's premier bourse. FIIs sold heavily blue chip stocks like ITC, TELCO, Tata Tea, MTNL, Bajaj Auto and BHEL. The selling spree is seen by the market players as a hedging strategy of FIIs to make up for the losses suffered in the stockmarkets eastwards.

Brokers informed that there was speculative buying in Castrol, ITC and Tata Tea counters.

The BSE-30 Sensitive Index fell by 35.04 points to close at 3365.75 points as against 3400.79 points yesterday. The Sensex opened at 3390.37 and saw a high of 3415.87 points and a low of 3318.69 points.

The BSE-100 index closed at 1471.55 points as compared to 1482.80 points, showing a net loss of 11.25 points. The BSE-200 index ended lower at 330.88 points as against 333.60 points yesterday, exhibiting a net loss of 2.72 points, while the Dollex index was down 1.43 points to 136.80 points from the previous close of 138.23 points.

The total turnover was Rs 8.8 billion. The number of trades was 91,483.

ITC registered the highest turnover of Rs 2.5 billion followed by State Bank of India (Rs 1 Billion), Tata Tea (Rs 983.7 million), Castrol (Rs 881.1 million) and MTNL (Rs 553.9 million).

Good transactions were recorded in Reliance (Rs 534 million), TELCO (Rs 400.7 million), BHEL (Rs 226.5 million), HLL (Rs 164.9 million), L and T (Rs 163.2 million), Bajaj Auto (Rs 14.78 million), TISCO (Rs 147 million), BPL (Rs 96.8 million), ACC (Rs 89.2 million) and Guj Ambuja (Rs 55.8 million). Hectic activity was observed in Corporation Bank (Rs 42 million), VSNL (Rs 41.3 million), Tata Info (Rs 10.4 million), Infosys (Rs 8.9 million), Pun Tractor (Rs 7.6 million) and Raasi Cement (Rs 7.2 million).

UNI