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Weak demand, FII selling trigger downtrend; Sensex down 21 points, 2919.57

Equities declined further by 21.72 points on the first day of the new week trading due to slack demand from foreign institutional investors coupled with selling pressure by domestic institutional investors at the Bombay Stock Exchange today.

Trading began half an hour late following the death of a member of the stock exchange. Market activity was dull and witnessed only buying by local bull operators of LIC and GIC shares.

A leading dealer said due to the forthcoming elections in four states and the absence of major market players, the BSE Sensex drifted low to 2919.57 points.

Reflecting the downtrend, the 30-scrip BSE Sensitive Index opened at 2929.99 points, touched the day's high of 2938.33 points, fell to touch the day's low of 2908.16 before closing at 2919.57 points, showing a net loss of 21.72 points from the previous close of 2941.39 points.

The broad-based BSE-100 index also dropped by 37.98 points to 1301.51 points as against the previous close of 1339.49 points.

The BSE-200 and Dollex indices have also eased by 2.51 and 0.93 points to 301.57 and 118.47 as against the previous close of 304.08 and 119.40 points respectively.

Total turnover on the BSE's online trading system was Rs 7.28 billion with 1303 scrips being traded in 76,214 trades. The total volume of shares traded was Rs 33.1 million.

Satyam Computers topped the list of turnover by registering the highest turnover of Rs 1.64 billion followed by ITC with Rs 1.10 billion. It was followed by Reliance Rs 613.2 million, SBI Rs 526.1 million, Pentafour Software Rs 476.5 million, Castrol India Rs 247.4 million and Zee Telefilms Rs 227.6 million.

Other actively traded scrips were telco (rs 19.69 crore), mtnl (rs 14.57 crore), glaxo india (rs 13.64 crore), tisco (rs 13.60 crore), acc (rs 11.128 crore), dig equip (rs 8.44 crore), tata tea (rs 8.34 crore) and l and t (rs 7.52 crore).

UNI

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