Share prices plunge

MUMBAI, March 3: Pivotals crashed on the Bombay Stock Exchange BSE as well as on the National Stock Exchange NSE today on nervous unloading after election results pointed to another coalition government at centre. Sensex slumped by 127 points. The closing rates showed widespread modest to sizeable losses. The volume of business remained brisk.

The BSE senstive index declined sharply from the opening level of 3772.24 to 3600.06 before closing slightly better at 3646.00 with a sizeable loss of 126.61 points compared to the previous level of 3772.61. The BSE-100 index lost 56.09 points to 1579.07.

Brokers said the situation is very fluid in the political front and we are heading back to where we were a period of uncertainty. Bull operators, who made optimistic buying at several pivotal counters on hopes that BJP would maintain its lead in the poll trend, indulged in selling as the trend changed. The foreign funds turned cautious and reduced their holdings.