Pivotals Continue To Suffer On Sustained Selling Pressure

Equity prices suffered further setback on sustained selling pressure from foreign institutional investors (FIIs) and domestic institutional investors despite the several relief measures announced by the Securities and Exchange Board of India (Sebi) on the Bombay Stock Exchange (BSE) yesterday.

Market sources said that the uncertain political situation in the country had demoralised the investors. Good performances shown by the corporate sectors in the first six months failed to push up the capital markets, as investors are wary to invest in the capital markets, they said and added that this trend will continue till next general budget.

Reflecting the downtrend, the BSE Sensitive Index (60 scrips) came down to 3148.57 points as against its previous close of 3163.78 points, suffering a loss of 15.21 points. The broadbased BSE National Index also declined to 1403.41 points over the Thursdays close of 1409.10 points, losing 5.69 points.

 

The BSE-200 index and Dollex index settled down at 310.47 and 144.91 points respectively, as compared to the last trading days close of 311.43 and 145.36 points respectively.

The FIIs and Unit Trust of India (UTI) have sold considerable numbers of Reliance Industries Ltd (RIL), Associate Cement Company (ACC), Indian Tobacco Companies (ITC) and Mahanager Telephone Nigam Ltd (MTNL) shares.

The total turnover on screen-based trading was Rs 458.64 crore, involving 2.73 crore shares. Out of 6,863 scrips, a total of 2,816 scrips were traded on BOLT system.

Some hectic trading activity was witnessed in shares like the State Bank of India (Rs 117.85 cr), Tisco Rs 107.41 crore), ITC (Rs 79.15 cr) and the Reliance Industries (Rs 60.54 cr), followed by Telco, BSES Ltd, ACC, Larsen and Toubro, MTNL, Bajaj Auto, Gujarat Ambuja Cement, Tata Power, IPCL, Arvind Mills and G E Shipping in specified counters.

In the `B1 group, Dabur India, Swaraj Engin, Lakme Ltd, ABB Ltd, TVS Suzuki, Bajaj Hind, J K Corporation Ltd, Nicholas Piramal, Bank of Rajasthan, Crompton Grieves and the HDFC Bank Ltd .