Business

Sensex drops on renewed selling

MUMBAI MAY 30. Weighed by a sharp fall in HLL and Reliance, the benchmark 30-share sensitive index reversed the overnight positive trend and declined by 24.65 points to close at 3135.89 on the Bombay Stock Exchange today following renewed selling pressure, triggered by mounting tension in the sub-continent.

A media report that the prospect of Indo-Pak war has forced the Pentagon to abandon its search for Al-Qaeda leaders in Western Pakistan and focus instead on immediate evacuation of 1,100 U.S. troops, played a crucial role affecting the market sentiment, a dealer said.

However, dealers attributed the initial rally in share values to increasing pressure from the international community on Gen. Pervez Musharraf to defuse the tension in the subcontinent.

The BSE-30 share sensitive index opened steady at 3161.90 and touched a high of 3192.50. Later profit selling at higher levels brought it down to a low of 3131.63 before concluding at 3135.89 against yesterday's close of 3160.24. The BSE-100 index also dropped by 10.34 points to 1602.42. — PTI

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