Sensex dropped 80 pt The BSE sensitive index declined from the inter-day high of 3410.67 to 3319.00 before finishing at 3353.22 with a net loss of 79.99 points compared to the previous level of 3433.21. The BSE-100 index lost 37.36 points to 1496.18 from the last closing of 1533.54.Brokers said that the sentiment was affected mainly due to end-account on the National Stock Exchange (NSE) and a technical correction to overbought positions. Operators who had built up large positions during the past week have unloaded. Foreign institutional investors (FIIs) have restricted their activity and supported only Satyam Computer, NIIT and SBI counters while local funds were net sellers for squaring up positions in the scrips of SBI, Larsen, Hindustan Lever, Telco, Reliance, ITC and ACC.Infosys Technologies, Ballarpur, Century Textile and IPCL from the specified group had hit their daily price band after exhausting their price limits. NIIT was in limelight and flared up by Rs 43 at Rs 1845.25 on the approval ofbonus by the shareholders to allow FIIs to hold 30 per cent stake in the company from the present 24 per cent.The total volume of business declined slightly to Rs 2056.72 crore from the previous level of Rs 2374.95 crore. Satyam Computer was the most active scrip with a turnover of Rs 279.89 crore and scrip firmed by Rs 14.75 to Rs 826.50. However, ITC dropped by Rs 30.25 to Rs 813.75, Pentafour Software by Rs 32.50 to Rs 732.25, Zee Telefilms by Rs 7.25 to Rs 685.00 and Reliance by Rs 4.40 to Rs 143.20 on selling pressure.On the NSE, pivotals declined sharply, after a lower start, mainly on profit-taking and squaring up positions on the last day of the current settlement. The S&P CNX Nifty declined by 21.15 points to close at 964.45 from the last close of 985.60. The total turnover on the exchange was Rs 2547.75 crore.
