Values Fall

Pivotals generally reacted to close with losses on the Delhi Stock Exchange (DSE) yesterday following fresh spell of selling by bear operators and overseas investors. The DSE benchmark index dropped by 8.81 points to close at 770.75 points .

Marketmen said despite rise of 31 per cent in ITC net profits at Rs 342.65 crore as against Rs 261.08 crore could not cheer the market sentiments as operators feel profits were not in line with market expectations. Reports that the government was likely to hike petroleum prices including diesel was another dampening factor, feels some stock brokers.

Foreign institutional investors (FIIs) and other players who had built huge positions in ITC in the past several sessions were seen off loading at higher levels which also adversely affected the sentiment.