Sensex Sheds 38 Points

Market sources said the lack of institutional buying was partly due to the high money market rates. Institutions were channelling most of their surplus resources into the call money market, a BSE broker said.

The Castrol scrip dominated trading on the bourses yesterday, following persistent rumours of an issue of bonus shares. The scrip clocked a turnover of Rs 209.34 crore on the BSE and Rs 244.08 crore on the NSE, topping the list of most traded stocks on the NSE. It fell sharply on the BSE from the days high of Rs 736 to Rs 707 following a Reuters flash quoting company officials that they had not sent any notice to the BSE to discuss the issue of bonus at their board meet.