Sensex loses 6.24 points

Brokers said activity was restricted in the absence of fresh support from foreign funds who adopted a wait-and-watch attitude till the presentation of the Union budget on February 27. Local operators made small deals either way for squaring up of positions ahead of the current settlement. “The railway budget is in line with market expectations but the hike in freight rates would hit some sectors of the industry,” said a broker.

The economic survey which was termed by the operators as "not so encouraging" too failed to have major impact on the market sentiment as they were eagerly awaiting the budget proposals to be presented on Saturday. Encouraged by good results of Glaxo, operators made considerable purchases at the counter pushing up its price to over Rs 700. Burroughs Welcome and Novartis were also in the limelight.

The total volume of business dropped sharply to Rs 1047.84 crore as compared to yesterday’s turnover of Rs 1346.19 crore. Reliance was the most active counter with a turnover of Rs 119.70 crore and scrip dropped by Rs 2.40 to Rs 139.20, Pentafour Software by Rs 15.25 to Rs 815, Tata Tea by Rs 8 to Rs 431 and Satyam Computer by Rs 16.75 to Rs 905.25. Zee Telefilms, however, hardened by Rs 13.25 to Rs 637.50.