ITC suffers setback on BSE

MUMBAI, NOV. 2. Tobacco-giant ITC suffered a severe setback after the Supreme Court banned cigarette smoking in public places across the country, adversely affecting market sentiment on the Bombay Stock Exchange today, even as the Sensex managed to land in positive terrain with a mild 2.80 points gain to close at 3052.60.

The early euphoria, created by SEBI's approval to introduce much- awaited individual stock futures in 31 scrips on which options contracts are permitted followed by a sharp upswing on the Wall Street, died down when the news of the ban filtered in, dealers said.

In response, heavyweight ITC bore the brunt of local funds selling and was locked in lower 10 per cent price band before closing down by 8.85 per cent, they added.

The Supreme Court today directed all States and Union Territories to immediately issue orders banning smoking in public places and public transports, including railways.

The order banning smoking in public places would include hospitals, health institutes, public offices, public transports including railways, court buildings, educational institutions, libraries and auditoriums, the court said.

However, smart rise in other index-based counters such as Hindustan Lever, Reliance, BHEL, HPCL, MTNL, GACL, Reliance Petroleum and State Bank of India helped the Sensex to close in positive territory.

The BSE-30 share sensitive index opened firm at 3059.52 and touched a high of 3100.29. However, selling after mid-session pulled down the Sensex to a low of 3040.84 before closing at 3052.60 against yesterday's close of 3049.80.

- PTI

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