The Hindu : Business : Sensex drops 54 points

Online edition of India's National Newspaper
Wednesday, Apr 06, 2005

Business

Business

Sensex drops 54 points

MUMBAI, APRIL 5. Pulled down by banking and auto shares, the Sensex today fell by 54 points to close at 6550.29 on the Bombay Stock Exchange due to hectic selling by retail investors and operators and negligible foreign institutional investor activity.

Brokers said players indulged in heavy selloff to safeguard their positions ahead of the forthcoming corporate results.

The BSE benchmark 30-share sensitive index opened marginally better at 6611.53 against the previous close of 6604.42, and after moving up temporarily to 6621.91 fell on heavy selloff.

After reaching an intra-day low of 6532.94, it closed at 6550.29, showing a loss of 54.13 points over the last close.

Among bank shares, SBI fell by Rs. 21.30 to Rs. 645.20, HDFC Bank by Rs. 9.90 to Rs. 542.20, Corporation Bank by Rs. 9.35 to Rs. 362.05 and Bank of Baroda by Rs. 10.70 to Rs. 207.00.

In the automobile segment, Tata Motors fell by Rs. 18.25 to Rs. 406.20 and Maurti by Rs. 17.75 to Rs. 402.35.

GACL, Maruti, Ranbaxy, Tata Power, Wipro, Grasim, REL, RIL, Tata Motors, Tata Steel, Cipla, HDFC, Hindalco, HPCL, Infosystch and Satyam Computer also met with heavy selling and closed sharply weak.

However, Bajaj Auto, BHEL, ONGC, ICICI Bank and Bharti closed better on good support.

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