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Bulls offload, market oscillates; Sensex sheds 60 points, 3218.91

Equities reacted sharply at the Bombay Stock Exchange following heavy bull-liquidation in heavy-weighted counters today. The benchmark Sensex registered a major decline of 60 points.

Smart performance by Corporation Bank, Indian Aluminium and ITC failed to boost market sentiments on the country's premier bourse as the speculators squared-off their positions on account of last day of weekly settlement at the National Stock Exchange.

The foreign institutional investors made purchases in Telco, Reliance, Castrol and ITC. The domestic institutional investors preferred to stay away from active participation.

Reflecting the weak trend, the 30-scrip BSE Sensex opened at 3281.09 points, touched the day's high of 3298.49, fell to the day's low of 3214.85 points before closing at 3218.91 points, showing a net loss of 59.67 points from the previous close of 3278.58 points.

The broad-based BSE-100 index lost 29.28 points to 1424.77 points as against the previous day's close of 1453.05 points. The market will remain closed tomorrow on account of the Ramazan festival.

The BSE-200 and Dollex indices too eased by 5.50 and 2.15 points to 330.24 and 129.37 points from the previous close of 335.74 and 131.52 points respectively.

Among the issues, Arvind Mills eased by Rs 1.70 to Rs 43.30, Bajaj Auto Rs 4.50 to Rs 478, Colgate Rs 5.30 to Rs 199, Dabur Rs 17.75 to Rs 501, Dr Reddy's Rs 19.25 to Rs 511.25, Glaxo Rs 11.25 to Rs 628.75, Grasim Rs 5.70 to Rs 182.30, ITC Rs 27 to Rs 807, Larsen & Toubro Rs 6.10 to Rs 178.60, MTNL Rs 5.70 to Rs 178, Reliance Rs 4.90 to Rs 130.30, Satyam Computers Rs 10 to Rs 909.75.

The gainers were Ashok Leyland which rose by Rs 2 to Rs 153, Cadbury's Rs 24.50 to Rs 505.50, German Remedies Rs 63.75 to Rs 798.50, India Hotel Rs 5.25 to Rs 369.25, Pentafour Software Rs 13.95 to Rs 805.70.

Total turnover on the BOLT network stood at Rs 17.23 billion. Pentafour Software posted the highest turnover at Rs 3.56 billion, followed by ITC Rs 2.67 billion, Reliance Rs 842.1 million and Telco Rs 835.8 million.

Other actively traded counters were Zee Telefilms (Rs 808.7 million), Tata Tea (Rs 578.6 million), Castrol (Rs 466.9 million), SBI (Rs 379.2 million), Infosys Technologies (Rs 307.1 million), Glaxo India (Rs 221.5 million), Tisco (Rs 215.4 million), German Remedies (Rs 203.4 million), Wockhardt (Rs 195.7 million) and Digital Equipment (Rs 169.4 million).

UNI

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