Reliance price, volume soar

Brokers said the substantial fall in the index was mainly due to selling pressure in scrips like BPCL, Infosys Tech, BHEL, Grasim, Hindalco, ITC, Mahindra and others. The downturn was also due to selective selling by operators who squared up positions at the week-end. But speculators consistently chasedpharma scrips like Dabur India, Sun Pharma, Knoll Pharma, Rhone Poule, Wockhardt and Pfizer.

Operators which had cornered the high-priced software shares in the last couple of days, unloaded part of their positions to book profits on the last day of the account. Of the 156 traded specified shares, 58 registered sharp to moderate gains while 92 showed losses and six held steady.

The volume of business rose sharply to a new high of Rs 3181.11 crore. Reliance clocked the highest turnover of Rs 283.49 crore. Zee Telefilms firmed up by Rs 155 to Rs 4739, Global Telefilms by Rs 3.25 to Rs 541.35.