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Sensex drops 66.66 points on FII's bearish stance

According to leading brokers, the FIIs, faced with fresh redemption pressure from the other markets, sold shares of ITC, Castrol, Tata Tea, BHEL, HLL, Ranbaxy and MTNL. The rupee's downslide against the US greenback aided the fall. The Indian unit declined by 41 paise to close at Rs 38.75-80 against the US dollar. There was no fresh buying by domestic institutions and brokers, marketmen added.

Reflecting the bearish phase, the BSE Sensex opened at 3272.74, touched the day's high of 3301.90, dipped to a low of 3200.83 points and finally closed at 3209.55, netting a loss of 66.66 points over yesterday's close of 3276.21 points.

The BSE-100 index also declined by 27.37 to 1429.02 points over yesterday's close of 1401.65 points. Similarly, the BSE-200 and Dollex indices also dipped by 5.72 and 3.31 to 314.13 and 135.11 points respectively over previous close of 319.85 and 138.42 points respectively.

Meanwhile, the total turnover on the BSE reported during the day was Rs 9.94 billion.

Tobacco giant ITC continued to maintain the top place by registering the highest turnover of Rs 363.53 million, followed by Castrol Rs 1.6 billion, State Bank of India Rs 945.7 million, Tata Tea Rs 810.7 million, Reliance Rs 520.1 million, Bajaj Auto Rs 221.6 million, Hind Lever Rs 173.8 million and TELCO Rs 153.9 million.

Hectic activity was also witnessed at the other counters like ACC Rs 146.2 million, MTNL Rs 143.4 million, BHEL Rs 128.1 million, TISCO Rs 113.4 million, HDFC Rs 80.7 million, Larsen and Toubro Rs 66.2 million and Colgate Rs 55.1 million.

Good amount of transactions were even reported at B1 counter like the Corporation, Bank of Baroda, Aptech, LML, Indian Alum, Dig Equip, Thiru Aroora, Reliance Pet, Madras Chem, ICICI Ba Cor and Credit Rati.

UNI