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Sensex drops 5.89 points

According to leading BSE brokers, leading domestic institutional investor pressed for sales in pivotal counters, while the foreign institutional investors made purchases at ITC, MTNL, TELCO, and HDFC counter.

The market had already crossed the crucial barrier of 3800 and may take some time to target next levels, said a analyst at the leading stock broker firm.

The marketmen are very much hopeful on the Bharatiya Janata Party government and have been waiting for allocations of portfolios and vote of confidence, said another stock broker.

The BSE Sensex opened higher level at 3825.02 points, touched a high of 3852.42 points, fell to the day's low level of 3802.50, and recovered to close at 3819.13, still showing a net loss of 5.89 points over the previous close of 3825.02 points.

The BSE-100 index drifted lower by 0.60 points to 1655.14 points against the previous close of 1655.74.

The BSE-200 and Dollex indices were finished at 365.87 and 154.06 points against the previous close of 366.01 and 154.11 points respectively.

The total turnover on the BSE reported during the day was Rs 9.4 billion.

Tobacco giant ITC, continued to be at the top in the list of turnover by registering the highest business volume of Rs 2.8 billion, followed by Tata Tea Rs 912.1 million, Reliance Rs 766.2 million, TELCO Rs 587.5 million and State Bank Rs 5259 million.

Hectic activity was observed at the other counters like TISCO Rs 301 million, Castrol Rs 255.2 million, Bajaj Auto Rs 229.7 million, ACC Rs 185.4 million, MTNL Rs 168.6 million, Hind Lever Rs 162.8 million, Glaxo India Rs 129.6 million, Dabur India Rs 104.5 million, Colgate Rs 78..6 million and L and T Rs 75 million.

UNI