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FIIs stay away, cheer eludes market on festive-eve; Sensex sheds 44 points, 3102.29

Share prices fell further on the Bombay Stock Exchange bringing down the 30-scrip BSE Sensex by another 44 points following speculative selling spree by institutional investors and local operators on the last day of current settlement today.

The Unit Trust of India's announcement of revision in the prices of its Unit Scheme-64 failed to bring any cheer to the depressed market, leading BSE brokers said. The foreign institutional investors stayed away from the market due to a fresh fall in the world markets.

With the long-awaited US interest rate cutting smaller than expected, Asia's top three stock markets, Tokyo, London and Hong Kong fell victim to profit-taking today that chopped away at earlier gains, a report said.

Back home, the major market participants postponed long-term positions in view of coming holidays on the BSE, marketmen said.

The market will remain closed for next two days on account of Dasara and Gandhi Jayanti holidays and it will reopen on Saturday for badla trading session.

Reflecting the bearish phase, the Sensex opened at 3132.20 points, touched the day's high of 3135.28 points, declined below the psychological barrier of 3100 to touch the day's low of 3084.82 points before closing at 3102.29 points, showing a net loss of 44.54 points over the previous close of 3146.83 points.

The BSE-100 index also declined by 17.06 points to 1379.78 points from the previous close of 1396.84 points.

The BSE-200 and Dollex indices closed lower by 3.28 and 1.28 points to 320.44 and 125.44 points against the previous close of 323.72 and 126.72 points respectively.

Total turnover on the BOLT system came down sharply by Rs 2.70 billion to Rs 14.41 billion from yesteday's turnover of Rs 17.11 billion.

Satyam Computers clocked the highest turnover of Rs 2.77 billion, followed by Zee Telefilm Rs 2.21 billion, ITC Rs 1.74 billion, Pentafour Software Rs 1.12 billion and Reliance Rs 793.5 billion.

Hectic activity was observed at the other counters like SBI (Rs 727.5 million), Dr Reddy's (Rs 289.8 million), Castrol India (Rs 261.5 million), MTNL (Rs 227.5 million), BHEL (Rs 222 million), Digital Equipment (Rs 220.6 million), Tata Tea (Rs 214.8 million), Infosys Tech (Rs 192.9 million), L&T (Rs 188 million), L&T (Rs 188 million) and Grasim (Rs 178.7 million).

Among the issues, ACC dropped by Rs 22 to Rs 1094, Bajaj Auto Rs 6.25 to Rs 645, BHEL Rs 17.40 to Rs 281.20, BSES down by Rs 3.30 to Rs 158.60, Castrol eased by Rs 9 to Rs 601, Dr Reddy's Rs 20.75 to Rs 493.75, Hindalco Rs 7.25 to Rs 510.25, ICICI Rs 1.45 to Rs 53.25, IDBI Rs 0.20 to Rs 49.70, Indian Rayon Rs 2.40 to Rs 114.70, IPCL Rs 1.20 to Rs 55, ITC Rs 3.25 to Rs 691.25, L&T down Rs 4.10 to Rs 184, M&M fell by Rs 7.40 to Rs 202.50, Pentafour Software down by Rs 6 to Rs 717.25, Ranbaxy Rs 3.75 to Rs 572.25, Reliance Rs 2.50 to Rs 118.80, Satyam Computers down by Rs 6 to Rs 579.50, SBi Rs 3.40 to Rs 200.20, Telco Rs 5 to Rs 138, Tisco Rs 1.15 to Rs 92.10, Tata Tea Rs 3.20 to Rs 296.20 and Zee Telefilms declined sharply by Rs 50.50 to Rs 638.75.

Exceptionally, Hindustan Lever scrip registered a gain of Rs 13.50 to Rs 1680.75.

UNI