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Pivotals tumble, Sensex loses 91 points as bulls unload

The Sensex lost over 91 points as pivotals tumbled on the BSE due to heavy bull unloading, selling spree by speculators, lack of buying interest in foreign institutional investors on the last day of the current settlement.

The political uncertainty in New Delhi arising out of differences between the ruling allies BJP and AIADMK, has made the marketmen cautious, according to leading BSE brokers.

The FIIs were completely out of the market while the domestic institutional investors like Unit Trust of India, LIC, GIC and some others have only made small purchases in the index-based scrips, market sources said.

Bear operators find it difficult to square up their positions as there were no takers for the stocks , a leading BSE broker said.

Reflecting the bearish trend, the BSE Sensex opened at 3173.35, which was to be the day's high, and fell sharply below the psychological barrier of 3100 to touch the day's low of 3089.02 and remained stagnant at that level till the end of trading, thereby loosing 91.71 points against the previous close of 3180.73 points.

The Sensex has lost nearly 200 points during the week on continous decline in the pivotals.

The broad-based BSE-100 index declined by 38.04 points to 1355.70 against the previous close of 1393.74 points.

The BSE-200 and Dollex indices lost by 8.35 and 3.65 points to 309.01 and 121.08 points as against the previous close of 317.36 and 124.73 points respectively.

Cement major ACC fell sharply by Rs 50 to Rs 1153, Bajaj Auto dropped by Rs 6.50 to Rs 547.25, Hindustan Lever by Rs 8 to Rs 1517.25, market leader ITC by Rs 15.50 to Rs 619, L&T by Rs 5.70 to Rs 212.30, Mahindra and Mahindra by Rs 5.50 to Rs 205.80, Reliance by Rs 3.30 to Rs 138, State Bank of India by Rs 7.40 to Rs 198.30, Tisco by Rs 3.70 to Rs 119.20 and Telco by Rs 9.50 to Rs 149.

Out of 7043 listed scrips, 1432 were traded in 83,463 trades. Total turnover of the BSE rose to Rs 6.24 billion from yesterday's turnover of Rs 5.52 billion.

ITC registered highest business volume of Rs 1.1 billion, followed by Satyam Computers (Rs 1.09 billion), Zee Telefilms (Rs 566 million), SBI (Rs 462.6 million), Reliance (Rs 420.8 million).

Other actively traded scrips were Hindustan Lever (Rs 235.6 million), Pentafour (Rs 232.5 million), Infosys Tech (Rs 221.2 million), Castrol (Rs 182.3 million), Tata Tea (Rs 145.5 million), Telco (Rs 113.4 million), ACC (Rs 101.5 crore), Tisco (Rs 67.4 million), Sterlite (Rs 48.7 million) and L&T (Rs 45 million).

In the B1 group, hectic activity was witnessed in the scrips like Wipro, Max India, BFL Software, Reliance Petroleum, DSQ Software, Silverline Software, SOL, Grind Norton, Tata Infotec, Cipla, Bata India, Mastek, Krishna Filament, Rolta Industries and Shriram Honda.

UNI

UNI