Pivotal Lose Ground On Lack Of Buying Support

Bearish sentiment prevailed on the BSE yesterday as pivotals lost ground due to lack of fresh buying support. Reflecting the lacklustre activity, the BSE Sensex opened slightly better at 3837.05, gradually moving up to a high of 3853.91. It later slumped to a low of 3815. The BSE-100 eased by 0.47 to 1644.76. The BSE-200 improved to 367.15 and the Dollex to 170.84 from the previous close of 366.84 and 170.70 respectively.

Dealers said trading in new account began on a cautious note with investors making some fresh purchases in the index based scrips which raised the sensex by 17.47 points to 3853.91 level. The Sensex ended the day at 3835.35, down 1.09 points over the previous close.

 

Among the major losers of the day were ACC, Bhel, HLL and Bajaj Auto. The only notable gainer in the specified group was Indian Hotels which moved by Rs 14.75 over the previous close of Rs 586.50.

ACC fell by Rs 62.50 over its previous close to end the day at Rs 1060. Leading brokers said that the market is not optimistic about ACCs results which are due this month. Bajaj Auto fell by Rs 30.50 to end the day at Rs 860.50, Bhel lost Rs 14.75 to end the day at Rs 411.50 while HLL ended the day at Rs 1214.25, down Rs 21.50 over the previous close.

Oil majors, HPCL and IPCL fared well yesterday with HPCL gaining Rs 6.25 to close at Rs 235.75. IPCL touched an intra-day high of Rs 129, but closed at Rs 125, up Rs 1.50 over the previous close. Spic was frozen at Rs 20.50, a gain of Rs 1.75 over its previous close. Among the B1 scrips Asian Hotels was the star performer of the day with the scrip hitting the upper end of the circuit filter at Rs 245. The scrip closed at Rs 239.75, up by Rs 16.75. The other major gainer in the same group was Tata Infotech, currently in its no-delivery period. The scrip was frozen at Rs 911, also the 52-week high .