Sensex down, Zee crashes

MUMBAI, DECEMBER 1: Pivotals generally showed a mixed trend on the Bombay Stock Exchange (BSE) today on alternative bouts of buying and selling. However, Zee Telefilms stock dropped sharply on heavy selling pressure. Zee Telefilms which hit the upper price band in the last of couple of days on news of share split, fluctuated in an unprecedented range of Rs 7100 and Rs 6282 against the last close of Rs 6831.55 with a sizeable loss of Rs 546.50 as its shares started trading with a face value of Rs one on the opening day of new account on the National Stock Exchange (NSE) and remained locked in lower circuit filter at the close.

Sensex (BSE sensitive index) opened lower at 4609.66 and moved in a range between 4667.02 and 4593.47 before closing at 4614.96 with a minor loss of 7.25 points compared the yesterday’s close of 4622.21. The BSE-100 index dropped by 10.96 points to 2242.43 from previous close of 2253.29.

Earlier, the sentiment was weak mainly on lack of buying support. However, several pivotals recovered as the session progressed on some purchases by FIIs which were net buyers in Satyam Computer, Wipro and SSI Ltd.

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The start of the new account on the NSE caused participants to shift their positions to the exchange from the BSE and helped the index close higher. Of the 140 specified shares, 72 registered losses while 66 recorded handsome gains and two held steady. The BSE recorded an all-time high turnover of Rs 4204.09 crore surpassing its previous high which was posted in October 1999 and substantially higher than Rs 3573.57 crore registered yesterday.

Satyam Computer clocked the highest turnover of Rs 714.84 crore. Satyam gained by Rs 52 to 1970, Pentafour by Rs 2.25 to Rs 870.10, Ranbaxy by Rs 12.50 to Rs 1005, HLL by Rs 14.60 to 2299.50, Infosys Tech by 14 to 9264, ITC by a rupee to 705 and Novartis by 10.55 to 1187.55.