Sensex dips further by 17 pts

November 30: Share values declined further on the Bombay Stock Exchange (BSE) mainly on bull unloading and lack of institutional support....

November 30: Share values declined further on the Bombay Stock Exchange (BSE) mainly on bull unloading and lack of institutional support. Resuming subdued, pivotals moved widely on alternative bouts of buying and selling and closed lower on poor interest from buyers.

Sensex (BSE sensitive index) started lower at 4636.28 and moved between 4649.65 and 4599.46 before closing at 4622.21, showing a net loss of 17.22 points from the previous close of 4639.43. However, the BSE-100 index registered moderate gain of 11.26 points at 2253.29 from the previous close of 2242.03.

Brokers said the market remained subdued in the absence of active buying support from market operators. Lack of activity in the FMCG counters also aided the downtrend. Only some counters from the information technology were in the limelight. Select pharma counters like Glaxo, Cipla and Mastek also witnessed some upward movement on buying support from investors.

Zee Telefilms was the most sought after scrip following the company’s decisionto split its share in the ratio of 10:1 trading on the basis of one rupee paid-up will begin from the next settlement on both the BSE and the National Stock Exchange (NSE). A host of low-priced software scrips from B1 and B2 group attracted fresh buying. The slide in cyclical share prices was more or less in line with squaring up positions on the NSE in view of the last day of the current account. The total volume of business is consistently going up for last couple days and was at Rs 3573.57 crore today as against Rs 3364.78 crore recorded yesterday. Zee Telefilms clocked the highest turnover of Rs 470.63 crore.

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