Pivotals Close Lower

Speculatives reacted on the Delhi Stock Exchange to close sharply lower following all round nervous selling by bull operators coupled with absence of necessary buying support. Marketmen said the finance minister P Chidamabaram's statement that government was not going to announce any economic package to boost the capital market prior to the prime minister's foreign visit, disappointed the speculators and investors who were building huge positions in heavy weighted shares.

Domestic financial institutions also joined the selling spree which further dampened the sentiment. The sensitive index ended 19.90 points down at 731.65 points.

The prominent loser ACC plunged Rs 88.60 to close at Rs 1287.50 and SBI lost Rs 18 at Rs 275 on all round selling by speculators and financial institutions. Tisco also came under heavy selling quoting Rs 13.50 down at Rs 184.50.

 

DCM Daewoo, Ranbaxy Labs and Siel were other counters which also succumbed to aggressive selling. A similar trend was also seen in the non-specified group when shares like Jindal Iron, Jindal Strips, BLB Mutual, Bank of Rajasthan, Bank of Punjab, Carrier Aircon, DCM Financial, Federal Bank, Flex Engineering, Ester Industries, HDFC Bank, India Glycols, Jindal Photo, Liberty Shoes, Maharashtra Seamless, Nagarjuna Fertilisers, Reliance Capital, Reliance Petroleum, Saw Pipes, Rolta India and UTI Master Plus quoted lower on increased selling by profit takers.