Pivotals decline further

MUMBAI, November 7: Pivotals declined further on the Bombay Stock Exchange BSE today in the absence of speculative support. After a steady spell, share prices declined during the mid-session mainly on profit taking in view of end-account considerations. But a few scrips rallied towards the end on fresh buying support by domestic financial institutions. The closing rates showed small widespread losses. The BSE sensitive index opened at 3761.16 touched the day8217;s high of 3764.61 and the day8217;s low of 3732.11 before closing at 3747.32 with a net loss of 16.64 points over the previous close of 3763.96.The BSE-100 index drifted lower by 9.13 points to 1619.21 over the previous close of 1628.34. Brokers said that the sentiment was affected mainly due to absence of speculative support since today was the last session for current settlement. Moreover, corporate results were also discouraging. Foreign Institutional Investors continued selling in fundamentally strong scrips, while, except for UTI, there were no takers in a big way. The total turnover reported during the day was Rs 501.69 crore. ITC topped the list by registering the highest turnover at Rs 152.86 crore, followed by Tata Tea Rs 76.89 crore,SBI Rs 53.78 crore, and Telco Rs 23.15 crore.On the National Stock Exchange NSE, share prices fell further today on increased selling pressure.The NSE-50 index opened better at 1081.15 but later fell to close at 1074.80, showing a loss of 6.15 over the last close of 1080.95. Midcap index also started higher at 1223.75 and rose further to 1230.00. Later, it closed at 1227.00, revealing a gain of 3.55 from 1223.45.