Sensex sheds 29 points

MUMBAI, January 23: Pivotals remained weak on the BSE today mainly on absence of speculative support and lack of institutonal buying. The sensex lost another 29 points. After a steady spell share prices moved in a narrow range. Most of the business was of squaring up in nature in view of today being last session for the current settlement and the holiday on Monday. The closing rates showed further small to modest losses. The volume of business remained below normal.

The BSE senstive index started at 3375.86 and hovered at same level before coming down to 3340.31 during the intra-day trading session and finally finishing at 3351.21 with a net loss of 29.09 points compared to the previous level of 3380.30. The BSE-100 finished at 1460.39 over the last trading day’s close of 1472.79 losing 12.40 points. Brokers said that financial institutions made only a feeble attempts to support the market by making small purchases in the index based scrips like SBI, Reliance and others. FIIs pressed fresh sales in blue chips such as Castrol and HLL. The crisis in the South East Asian countries made operators hesitant to carry forward their position ahead of the long week-end.

On the NSE share prices declined further on selling pressure. The NSE-50 index resumed weak at 992.20 and declined further to 984.55. Later, it closed at 986.80, still showing a fall of 5.55 over the last close of 992.35. The Midcap index commenced weak at 1127.45 and finished at 1118.60, disclosing a fall of 9.00 from the previous close. Today’s total turnover was Rs 991.01 crore.