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Sensex drops 91 points at close

March 10, 2004 17:08 IST

The Sensex on Wednesday opened with a loss of 18 points at 5,833. The market was extremely bearish for the second consecutive session, as the stocks remain weak throughout the trading session. Though the markets slightly came off from its lower levels in mid-noon deals, fresh selling in heavyweights, PSUs, tech, auto and cement stocks towards the fag-end pushed the index to a low of 5,746.

The Sensex ended the session with a loss of 91 points at 5,759. The Nifty lost 22 points to close at 1,844.

Reliance displayed weak trends throughout the session, and dipped 1.90% (Rs 11) to close at Rs 572. HLL dropped 3.56% (Rs 5) to Rs 149. ITC, however, bounced back into the green towards the closing hours, and ended with a marginal gain of Rs 4 at Rs 1,176.

SBI shed 2.85% (Rs 18) to Rs 616. BHEL slumped sharply to end with a loss of 3.37% (Rs 21) at Rs 607. While HPCL lost 1.78% (Rs 9) to Rs 502, MTNL was down 2.14% (Rs 3) at Rs 142.

Infosys dropped 2.32% (Rs 115) to close at Rs 4,855. Satyam too ended weak with a loss of 1.34% (Rs 4) at Rs 294. Wipro, however, gained 1.84% (Rs 26) to close at Rs 1,455.

Grasim (down Rs 32 or 2.76% to Rs 1,142), L&T (down Rs 8 or 1.34% to Rs 583), Gujarat Ambuja (down Rs 11 or 3.48% to Rs 310) and ACC (down Rs 7 or 2.76% to Rs 265) lost ground on selling pressure.

Hero Honda dropped 6.17% (Rs 33) to Rs 497. While Tata Motors declined 3.24% (Rs 17) to Rs 503, Bajaj was down a per cent (Rs 9) at Rs 900.

ICICI Bank (down Rs 13 or 4.39% to Rs 290) and Tisco (down Rs 7 or 1.70% to Rs 434) also ended weak.

Ranbaxy slipped 1.37% (Rs 14) to Rs 977. Cipla ended with a loss of Rs 7 at Rs 1,230. Dr. Reddy's, however, was marginally up by Rs 3 at Rs 1,050.

HDFC Bank, however, moved up 1.16% (Rs 4) to close at Rs 379. Tata Power, too, ended with gains at Rs 403 - up Rs 4.


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