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BSE & NSE / Weekly Review

FIIs, domestic FIs cool; pivotals dip a little, Sensex down 34 points, 2941.39

Pivotals witnessed a moderate decline on the Bombay Stock Exchange due to speculative selling pressure coupled with lack of heavy buying support from foreign institutional investors and domestic funds in the absence of any major market moving factors during the week ended November 21.

The 30-scrip BSE Sensex lost by 34.73 points to 2941.39 points as against the last week's close of 2976.12 points. The broad-based BSE-100 index drifted lower by 13.42 points to 1312.11 points from the previous week's close of 1325.53 points.

The market opened on a weak note on Monday, and barring Tuesday and Wednesday it reported a downward trend during the week.

Raids by the Central Bureau of Investigation on the premises of Reliance Industries Limited in Bombay and Delhi also demoralised investor sentiment, dealers said.

The BSE-200 and Dollex indices eased by 1.70 and 0.90 points to 304.08 and 119.40 points from last Friday's close of 305.78 and 120.30 points respectively.

The BSE Sensex opened 35 points lower on Monday, on expectation of the aftermath of the passing of Leonid showers of the Temple-Tuttle comet. It was mainly a lacklusture week, with the Sensex hovering throughout the week at around 3000 level, an analyst with one of the institutional investors said and added that on the last trading session of the week, it penetrated the previous low of 2944 at 2933 but closed just above that at 2941.

Business volume also dropped considerably during this week. The total turnover on the BSE declined sharply by Rs 12.26 billion to Rs 47.91 billion from the last week's turnover of Rs 60.18 billion.

Among the issues, BHEL gained by Rs 7.20 to Rs 260.70, Castrol Rs 4.75 to Rs 648.50, Grasim Rs 2.80 to Rs 163.50, Mahindra and Mahindra Rs 1.40 to Rs 165.50, Telco Rs 1.40 to Rs 140 and Tisco Rs 2.10 to Rs 94.10.

The losers included, ACC which dropped by Rs 24.50 to Rs 1021.75, Bajaj Auto Rs 9.20 to Rs 553.50, Dr Reddy's Rrs 10.25 to Rs 150.50, Hindustan Lever Rs 22.25 to Rs 1597.50, Hindalco Rs 6.75 to Rs 545.50, India Hotel Rs 7.25 to Rs 435.75, Infosys Tech Rs 2.25 to Rs 2390, ITC Rs 21.75 to Rs 707, L&T Rs 3 to Rs 155, NIIT Rs 58.75 to Rs 1390, Reliance Rs 2.20 to Rs 119.40, SBI Rs 0.80 to Rs 160.

At the National Stock Exchange, the weak trend continued. On November 13, the S&P CNX Nifty closed at 867.25 points. Yesterday it closed at 857.95 points.

The CNX Nifty Junior lost by 3.30 points to 1438.70 points as against the previous week's close of 1442.00 points. The CNX Defty closed lower by 9.00 points to 700.80 points as against last week's close of 709.80 points.

Total turnover on the NSE dropped significantly by Rs 11.14 billion to Rs 57.75 billion as against the last week's total turnover of Rs 68.89 billion.

UNI

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