Sensex loses 29 points

MUMBAI, Feb 2: Industrials reacted further on the Bombay Stock Exchange BSE today on profit-taking and squaring up of the business at the National Stock Exchange NSE. The downtrend was also due to the fluid political situation following reports that the coalition partners at the Centre are likely to reconsider support to the Bharatiya Janata Party BJP led government.

Sensex BSE sensitive index opened at 3251.96 and moved between 3279.98 and 3219.54 before closing at 3236.76 with a net loss of 29.15 points from the previous close of 3265.91. The BSE-100 index dropped by 14.92 points to 1424.32 against the previous close of 1439.24. Brokers said the market participants were reluctant to take any long position on account of the fluid political situation and FIIs adopted a wait-and-watch approach until further developments. Software scrips suffered further setback.

Domestic institutions purchased small lots of MTNL, HPCL and TELCO to reduce the losses in these scrips. Mutual funds and banks corneredshares of Reliance, TISCO and ACC while speculators covered up positions in Bajaj Auto, Castrol, Glaxo, Lamp;T and Indian Hotels and balanced the index.

The total turnover was Rs 1420.36 crore. Pentafour Software was the leader among the five most prominent traded scrips with a turnover of Rs 260.15 crore. Satyam Computer followed with Rs 158.88 crore, ITC Rs 128.46 crore, Zee Telefilms Rs 57.96 crore and TELCO Rs 56.93 crore. Pentafour Software dipped by Rs 34.50 to Rs 934.75, Satyam by Rs 20.25 to Rs 886, ITC by Rs 6 to Rs 800 and TELCO by Rs 1.10 to Rs 198.80 on selling pressure.