Declining Trend

The Delhi stock market suffered another setback as heavy weighted share prices faced sustained selling from bear operators and foreign institutional investors. This was mostly because of reports that the chief metropolitan magistrate had rejected former Prime Minister P V Narasimha Raos bail plea in the St.Kitts forgery case.

However, at the outset shares showed some recovery following the Congress partys decision at its working committee to continue its support to the United Front government at the Centre. However, revival of selling in the latter part of the session dampened the sentiment, according to marketmen. The Delhi Stock Exchange Sensitive Index lost 9.94 points at 692.95 point.

 

Blue chip stocks which suffered sharp setbacks were ACC, Reliance Industries, State Bank of India, Tisco, Telco, Escorts, BSES and some others.