Equities Retreat

Late selling by profit-takers and domestic financial institutions reversed an early higher trend with the prices reacting to close lower on the Delhi Stock Stock (DSE) market yesterday.

Stock brokers said, in view of end of fortnightly settlement speculators were squaring-off positions which mainly wiped out earlier gains in most scrips. However, MTNL remained in demand mainly among FIIs. The DSE sensitive index after touching 749 points fell back to late selling and ended 5.21 points down at 738.54 points.

MTNL spurted to Rs 243, gaining Rs 5.50 HLL soared to Rs 1,553.50. but succumbed to end Rs 16.50 down at Rs 1,516. ITC traded in the range of Rs 618 and Rs 630 before finishing at Rs 624, a fall of Rs 3.25. ACC closed Rs 9 higher at Rs 1,245.

 

Tata Loco, LML, Escorts, Nestle India, SmithKline Beecham Consumer Health Care and Tata Steels drifted on selling pressure.