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NSE settlement-end squeezes BSE prices as bulls unload; Sensex down 52 points to 3912.00

Share prices reacted sharply at the Bombay Stock Exchange and the National Stock Exchange on speculative selling pressure coupled with bull unloading on account of the last day weekly settlement at the NSE today.

The 30-scrip Sensex opened at 3954.26 points, touched the day's high of 3991.80 points, a low of 3885.30 points, before closing at 3912.00 points, showing a net loss of 51.56 points from the previous close of 3963.56 points.

The S&P CNX Nifty at the NSE lost by 8.50 points to 1123.80 points as against the previous close of 1132.30 points.

The broad-based BSE-100 index declined by 23.10 points to 1690.92 points from the previous close of 1714.02 points.

Dealers said the fresh air-strikes carried out by the Indian Air Force in the Kargil sector of Jammu and Kashmir also demoralised market sentiments.

Among the issues, Burroughs Welcome declined by Rs 21.50 to Rs 734.80, Castrol Rs 13.50 to Rs 406.50, Colgate Rs 5.65 to Rs 204, Dr Reddy's Rs 28 to Rs 812, Exide Industries Rs 4.35 to Rs 192.50, Hindalco Rs 16.25 to Rs 560.25, India Hotel Rs 5 to Rs 331, Infosys Technologies Rs 42.60 to Rs 3205.65, ITC Rs 34 to Rs 1,026, Mahindra&Mahindra Rs 10.05 to Rs 202, Nestle Rs 1 to Rs 566, Pentafour Software Rs 19.70 to Rs 1087.25, Procter&Gamble Rs 22.35 to Rs 1064, Reliance Rs 0.85 to Rs 166.50, Satyam Computers Rs 48.50 to Rs 1370, SBI Rs 2.60 to Rs 240.90, Telco Rs 7.55 to Rs 177.10, Tisco Rs 2.10 to Rs 107.50.

The few gainers were Hero Honda rose by Rs 9 to Rs 999, Hindustan Lever looked up by Rs 5.50 to Rs 2300, NIIT Rs 10.05 to 1900, Ranbaxy Rs 11.40 to Rs 640.40.

The BSE-200 and Dollex indices declined by 5.22 and 2.13 points to 385.42 and 149.68 points as against the previous close of 390.64 and 151.81 points respectively.

Total turnover on the BSE stood at Rs 15.67 billion. State Bank of India posted the highest turnover of Rs 2.37 billion, followed by Reliance Rs 1.93 billion, Satyam Computers Rs 1.36 billion, Ranbaxy Rs 1.12 billion and ITC Rs 913.6 million.

Other actively traded counters were Pentafour Software, L&T, Zee Telefilms, MTNL, Tisco, BPL Limited, Telco, Raymond Limited, Tata Tea, and Sterlite.

UNI

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