Sensex declines further

Sentiment was depressed during major part of the session owing to the decision of the Congress to vote against the imposition of president8217;s rule in Bihar thus creating fresh political uncertainty. Scrips like PSI Data, Digital Equipment from info-tech group and Reliance and Nocil posted considerable gains during the day. FIIs Tata Tea once again emerged as a front runner at the bourses. Rumours of the government rolling back the 8excise duty imposed earlier on packet tea8217; during the annual budget of 1998, led to a fresh spree of purchases at the counter. Stock today flared up over 5.6 on the local bourses to close at the day8217;s high of Rs 440.

On the NSE share prices softened further on the last day of the current settlement as operators were squaring up their outstanding positions.The Samp;P Cnx Nifty fell by 4.20 to 949.65 from the last close of 953.85. The total turnover was Rs 2,073.63 crore. At the exchange, 362 securities advanced, 736 declined and 98 held steady. 93 securities had hit their price bands.