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What falls down must go up!

Reflecting the trend, the BSE Sensex opened at 3536.07, touched the day's high of 3574.06 and then fell sharply by about 72 points to touch an intraday low of 3488.66. However, it recovered smartly to close at 3569.65, showing a marginal gain of 9.36 points against the Friday's close of 3560.29 points.

The broadbased BSE 100 Index closed higher by 3.67 points to 1546.77 points against the previous close of 1543.10 points. The BSE-200 and Dollex Indices finished at 347.27 and 149.90 points against the previous close of 346.91 and 149.75 points.

According to marketmen, foreign institutional investors sold heavily at the TELCO counter, while the Unit Trust of India and Life Insurance Corporation made moderate purchases at the select counters.

Speculators and local operators preferred to stay away from the market in view of political uncertainty at the Centre.

The total turnover on the BSE was Rs 7 billion. Tobacco giant ITC topped the list of turnover by registering highest business volume at Rs 2.2 billion, followed by State Bank Rs 1.2 billion, Reliance Rs 673.7 million, Tata Tea Rs 479.3 million and Castrol Rs 450.5 million.

Hectic activity was observed at the other counters like TELCO Rs 348.2 million, Bajaj Auto Rs 249 million, MTNL Rs 210.7 million, Hero Honda Rs 137.1 million, Smith Kline Rs 117.5 million, ACC Rs 99.7 million, TISCO Rs 86.4 million, BHEL Rs 83.6 million, Colgate Rs 52.5 million and Hind Lever Rs 4.56 million.

Good transactions were witnessed in the B1 group at the counters led by Wyeth Lab, Videsh Sanch, Foseen India, Software Sol, Thiru Aroora, Satyam Comp, Bausch and Laumb, Infosys Tech, Wipro, ICICI Bank, DSQ Software, Contain Corp, Godrej Soaps, Aptech and LML.

UNI