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Equities take a corrective tumble; Sensex down 74 points to 4824

Share prices suffered a major setback at the Bombay Stock Exchange pushing down the Sensex by 74 points or 1.5 per cent on profit-booking at heavy-weighted counters today.

The bull liquidation which began yesterday continued for the second consecutive day today as there was heavy selling pressure in select heavyweight counters, dealers said.

Barring a few scrips like Bajaj Auto, ITC, Global Telesytems, Digital Equipment, most of the pivotals fell, they said.

Reflecting the bearish mood, the 30-scrip BSE Sensitive Index opened at 4910.64 points, touched the day's high of 4914.12 points, a low of 4813.54 points, before closing at 4824.44 points, showing a net loss of 73.77 points from the previous close of 4898.21 points.

The broad-based BSE-100 index declined sharply by 39.70 points to 2192.94 points as against the previous close of 2153.24 points.

Leading BSE brokers said that the market was in overbought position and it suffered a technical correction for last two days.

Institutional deals were reported in the counters of Chambal Fertilisers, Concor, Dabur, Digital Equipment, Godrej Soaps, Hindalco and Titan.

The market favourite infotech, FMCG and pharma scrips witnessed a mixed trend while the pivotals were generally weak, dealers said.

The BSE-200 and Dollex indices declined sharply by 8.60 and 3.25 points to 494.85 and 189.53 points from the previous close of 503.45 and 192.78 points respectively.

The total turnover on the BOLT network at the BSE stood at Rs 20.59 billion.

Ranbaxy topped the list of turnover by registering the highest turnover of Rs 2.36 billion, Reliance Rs 1.48 billion, Zee Telefilms Rs 1.26 billion, SBI Rs 982.4 million and ITC Rs 945 million.

Other actively traded counters were L&T (Rs 853.4 million), ACC (Rs 776.1 million), Telco (Rs 764.9 million), Digital Equipment (Rs 625.8 million), Tata Tea (Rs 605.9 million), Tisco (Rs 565.7 million), Sterlite (Rs 559.9 million), Bajaj Auto (Rs 558.2 million), Pentafour Software (Rs 477.4 million) and Satyam Computer (Rs 378.6 million).

UNI

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