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BSE discounts credit policy, Sensex down by 32 points, 2812.49

The Reserve Bank of India half-yearly credit policy announcements failed to bring any cheer to the stock markets, as pivotals declined sharply on heavy bull-liquidation at the Bombay Stock Exchange today.

The domestic institutional investors like Life Insurance Corporation and Foreign Institutional Investors made moderate purchases at select counters like MTNL and Satyam Computers while the Unit Trust of India, preferred to be away from active buying, leading BSE brokers said.

The brokers attributed today's losses to the heavy unloading by bull operators. Being the last day of trading cycle, the speculators squared up their positions which subsequently hampered the market trend, they said.

Reflecting the downtrend, the 30-scrip BSE Sensitive Index opened at 2844.15 points, touched the day's high of 2862.31 points, fell to touch the day's low of 2812.49 points and remained stagnant at the day's low level till the close, showing a net loss of 32.67 points over the previous close of 2845.16 points.

The broad-based BSE-100 index also declined by 13.65 points to 1260.78 points from the previous close of 1274.43 points.

Speaking to uni, bse president j c parekh said there is nothing new in the credit policy which could directly benefit the secondary market . Mr parekh however said that he has yet to read in detail the credit policy annoucements.

Meanwhile, the bse-200 and dollex indices closed lower by 3.42 and 1.56 points to 293.73 and 115.42 points from the previous close of 297.15 and 116.98 points respectively.

UNI