Shares Plummet

Recovery run at the Delhi Stock Exchange was shortlived as share prices plummeted on emergence of heavy profit-selling and scrips closed with widespread gains. Foreign institutional investors (FIIs) made select purchases during the day which pushed up prices of certain blue chip scrips. However, heavy selling by bulk operators totally wiped out the gains.

Reflecting the overall mood of the market, the Delhi Stock Exchange Sensitive Index slipped by 1.09 points to close at 779.57 points from the previous closing of 780.66 points. Despite ITC announcing improved earnings in its corporate results, the market failed to pick up and investors continued selling the scrip, brokers said. Delayed announcement of the ITC results might have been the reason for the market's negative reaction, they added. Bajaj Auto was the most prominent loser in the specified category slipping by Rs 24.95 to close at Rs 845.05 followed by Ranbaxy Laboratories which lost Rs 11 and closed the day at Rs 570.