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Sensex sheds 37 more points on Kargil fears; 4119.73

The Sensitive Index of the Bombay Stock Exchange dropped for the second consecutive day by another 37 points due to selling pressure from the local institutions and poor support from the foreign institutional investors today.

The market was comparatively dull with most of the bulls operating on the selling counters mainly due to the ongoing apprehension about the Kargil talks between the Pakistani envoy and the US secretary in Washington. Players sold lumpsum blocs of the Unit Trust of India shares among others while there was less buying support by the FIIs during the entire session.

The annual general meeting of Reliance Industries did not have any immediate impact on the market, leading dealers said, and added that a reaction which is expected late in the evening will reflect in tomorrow's session.

Reflecting the trend, the BSE-30 opened at 4137.44 points and touched an intra-day high of 4156.02 points. It touched a low of 4083.47 points before finally closing at 4119.73 points showing a net loss of 37.40 points or 0.89 per cent over previous close.

The BSE-100 also lost moderately as it opened at 1782.09 points for the day. It reached the high of 1787.59, low of 1764.49 and finally closed at 1775.46 points, showing a net loss of 14.44 points.

The BSE-200 index and the Dollex also closed lower by 3.46 and 1.66 to 406.48 and 156.18 points from its previous close of 409.94 and 157.84 points respectively.

Shares of Siemens, the ICICI and L&T recorded gains while those of Ranbaxy, Tata Tea and Hindustan Lever suffered losses.

UNI

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