Pivotals Remain At Low Levels On Selling Pressure

The trading sentiment remained dull yesterday on the Bombay Stock Exchange (BSE) as share prices fell on selling pressure by operators. According BSE brokers, the overall market sentiment remained sluggish barring some selective counters, mainly MNC and pharma, which announced excellent results.

Domestic institutions were buyers in L&T, MTNL and BSES among others. They sold in scrip like HLL. FIIs bought stocks like Procter&Gamble, which registered sharp gains at Rs 571 (+ Rs 7) and sold in Telco, which declined by Rs 8 to close at Rs 239.

The 30-scrip BSE Sensex rose initially to touch an intra-day high of 3,466.28 on selective FII buying but declined later to touch the days low of 3,409.62 due to short covering by operators to close at 3,417.30 as against the last close of 3,437.64, netting a loss of 20.34 points. The BSE-100 index eased by 7.65 points to 1,471.98 from the previous close of 1,479.63. The BSE-200 and the Dollex were quoted fractionally down at 326.58 and 139.88, respectively.

 

The stocks that fell were ITC by Rs 5.25 to Rs 622.50, RIL by Rs 3.10 to Rs 149.80, Telco by Rs 7.10 to Rs 231.90, Tisco by Rs 1.50 to Rs 120.70, Hindustan Lever by Rs 4 to Rs 1,526.25, Castrol by Rs 8 to Rs 664.25 and Tata Tea by Rs 5.50 to Rs 418. SBI-new went down by Rs 241.40 from the last close of 242.10.

Other side stocks in good demand were BPCL, Britannia, Pfizer and UPL. BPCL moved up Rs 13 at Rs 364, Britannia at Rs 402 (+Rs 13), Pfizer at Rs 453 gained of Rs 6 and UPL at Rs 77 (+Rs 5). ITC recorded the highest turnover of Rs 226.99 crore in the total BSE volume of business of Rs 815.61 crore, which was slightly down from the last Rs 829.43 crore. The stocks in good volumes were Tata Tea at Rs 102.97 crore, Hindustan Lever at Rs 85.98 crore, Castrol at Rs 72.30 crore and RIL at Rs 58.26 crore.