Sensex loses 69 points

Brokers said that apart from end-account considerations, the trading sentiment was also affected due to uncertain political situation at the centre as the United Front Government Steering Committee had declined to admit Rashtriya Janata Dal RJD as coalition partner. Besides, the suggestion made by the International Monetary Fund about an early decision on petroleum prices also added fuel to fire.

Though financial institutions made sizeable purchases in select blue chips such as Castrol, Glaxo and Pfizer, the overall sentiment was weak following closure of banks and the National Stock Exchange NSE for Id-E-Milad. SBI remained the most active scrip accounting for Rs 211.25 crore of the total volume of Rs 762.37 crore. Other active scrips were Reliance Rs 111.54 crore, ITC Rs 85.95 crore, Tata Steel Rs 47.26 crore and Telco Rs 42.09 crore.

HDFC dropped further by Rs 331.75 to 3923.25 as the FII stakein the company has touched 30 per cent. SBI lost Rs 11.50 to 325, Reliance by Rs 8 to Rs 342.75, ITC by Rs 3.25 to Rs 507, Tata Steel by Rs 9.50 to Rs 200 and Telco by Rs 9.50 to Rs 387 on selling pressure.