Pivotals remain subdued

November 23: Pivotals remained subdued on the Bombay Stock Exchange BSE today mainly in the absence of speculative support. The new account started weak and share prices moved narrowly as operators and some foreign funds pressed fresh sales.

Sensex BSE sensitive index moved in a narrow range between 2908.16 and 2938.33 before closing at 2919.57 with a net loss of 21.82 points against last Friday8217;s close of 2941.39. The BSE-100 index lost 10.60 points to 1301.51 from the previous level of 1312.11.

Brokers said foreign funds were reportedly net sellers in some scrips like Nestle, Bajaj Auto, ITC, Larsen and some software shares. Domestic institutions, however, bought shares of ITC, ICICI, Hindustan Lever, Larsen, SBI, Bajaj Auto and others. The forthcoming assembly elections in four states 8212; results of which are feared to affect the political situation in the country 8212; was the main factor for the low volume as most of the operators were watching the developments and keeping away from making freshcommitments.