Sensex sheds 29 points

Brokers said most of the operators adopted cautious approach in view of delay in formation of new government. The profit taking was also in view of end-account considerations and limited support expended by the foreign financial institutions. The domestic institutional investors reportedly sold shares at the leading counters while the FIIs picked up small quantity of shares at the select counters like Bajaj Auto, ITC and MTNL and others.

ITC remainedthe market leader with the turnover of Rs 228.99 crore, of the total volume of business of Rs 901 crore. ITC dropped by Rs 6.25 to Rs 701, Reliance by Rs 1.10 to Rs 164.50, SBI by Rs 6.90 to Rs 270 and Telco by Rs 2.10 to Rs 245.80.

On the NSE share prices turned weak on emergence of profit selling at high level and closed with fresh losses. The NSE-50 index, after a weak start at 1091.95, declined further to close at 1083.35, showing a fresh fall of 9. The Midcap opened at 1258.25 but soon dropped steeply to close at 1235.30, disclosing a sharp setback of 23. The market witnessed a total turnover of Rs 1,199.97 crore.