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Tuesday squaring up shaves 40 points off Sensex, 3744.18

Barring select scrips, share prices reacted sharply at the Bombay Stock Exchange, following speculative selling pressure and profit-taking by bull operators today.

Few select scrips like Satyam, Global Telesystems, Reckit and Colman, E-Merck, Square D Software, BSL Software, PSI Data, Lakme, Crompton Greaves, Tata Chemicals and Thomas Cook gained smartly.

However, other well-known shares like ACC, Reliance, ITC, Telco, SBI, Procter and Gamble, Glaxo, Novartis, Cipla, IPCA, Burroughs Welcome, German Remedies, Infosys Technologies, HLL, SBI, Bank of India, Bank of Baroda and Corporation Bank dropped significantly, dealers said.

Being the settlement closing day at the National Stock Exchange, major players were busy in squaring up their positions. Dealers also attributed the downtrend to the same.

Mirroring the bearish mood, the 30-scrip Sensex opened at 3765.03 points, touched the day's high of 3793.58 points and closed at the day's low of 3744.18 points, registering a net loss 39.53 points as against the previous close of 3783.71 points.

The broad-based BSE-100 index declined by 9.23 points to 1650.40 points from the previous close of 1659.63 points.

According to dealers, foreign institutional investors have reportedly made purchases in Bharat Electronics, BPL, Crompton Greaves, Indian Shaving, Infosys Technologies, IPCL, Satyam Computer, Telco and TVS Suzuki.

The current market favourite infotech and FMCG counters witnessed a mixed trend, while pharma, banks and telecom have reported a bearish phase dealers said.

The Infosys scrip came under selling pressure today on the domestic bourses due to six per cent fall in its price at the NASDAQ, analysts said. The scrip fell by about six to seven per cent at the NSE and the BSE.

The BSE-200 and Dollex indices eased by 2.24 and 0.84 points to 378.21 and 148.48 points as against the previous close of 380.45 and 149.32 points respectively.

UNI

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