Business

Sensex drops 10 points

MUMBAI JULY 7. Led by RIL and HLL, equities lost early gains and a few even ended with marked falls pushing the Sensex down by ten points at close on the Bombay Stock Exchange today on late selling pressure by domestic funds and retail investors.

Both top heavyweighted counters, RIL and HLL, suffered a sharp setback on sustained selling by hedge funds while select pharma shares that had been in the limelight during last week, met with a resistance due to profit booking at higher levels.

The BSE benchmark 30-share index showed signs of a fresh rally rising to the intra-day at 3645.42 at the early stages of the session. However, later it reacted sharply due to late sell-off and ended at 3612.53 as against last Friday's close of 3622.34, a net loss of 9.81 points. The broad-based BSE-100 index, however, improved by 8.68 points to 1847.37 from previous close of 1838.69.

Brokers termed the market as operator-driven for the positive role played by bulls who have continuously been enlarging their commitments on the back of increased FII activity on the bourses. — PTI

© Copyright 2000 - 2009 The Hindu