Date:22/02/2007 URL: http://www.thehindu.com/2007/02/22/stories/2007022205151900.htm

Business

Sensex drops 65 points

MUMBAI: The stock market lost lustre for the second consecutive day on Wednesday as sustained selling by wary operators ahead of the expiry of February series pulled the benchmark Bombay Stock Exchange 30-share sensitive index (Sensex) down by 65 points to close at 14188.49.

Analysts said market sentiment had turned cautious with investors opting to unwind their positions ahead of the expiry of February contract on Thursday.

Most of the IT shares were at the receiving end while some of the metal counters attracted renewed buying support.

The Sensex, opened weak at 14199.07 against Tuesday's close of 14253.38 and moved erratically between 14312.88 and 14157.72.

It later closed at 14188.49, a fall of 64.89 points.

There was no major global cue to the market as Asian markets on Wednesday remained mixed. RIL, Infosys, Satyam Computer, TCS, BHEL, Grasim, HDFC Bank, HLL and Ranbaxy suffered sharp falls on selling. — PTI