Stock markets remain weak

Stock markets remain weak
ENS ECONOMIC BUREAU

MUMBAI, AUG 3: Stock markets remained weak with the benchmark Sensex registering a fall of 53.25 points to settle at 4207.63 today on fag-end selling by foreign institutional investors (FIIs) coupled with downloading of outstanding positions by operators.

Dealers said operators became nervous due to consistent offloading by FIIs, and they also joined the selling bandwagon and liquidated their long outstanding positions. Sensex opened lower at 4232.21 and logged a high of 4279.51 in the morning session. But a heavy sell-off after mid-session pulled down the Sensex to the day's low of 4204.41 before closing at 4207.63 as against yesterday's close of 4260.88.

Initially, there was sizeable buying activity in traditional blue-chip stocks such as cement, steel, banking, pharmaceuticals and fast moving consumer goods companies but late selling wiped-off earlier gains completely.

Satyam Computer dipped by 72.95 to 2390.15, Himachal Futurustic by 16.55 to 1365.10, Global Tele by 38.15 to 1139.95, Infosys Tech by 195.05 to 6451.85, Sterlite by 119.20 to 690.35, GACL by 11.05 to 213.10, HLL by 3.30 to 237.75, Hindalco by 13.15 to 831.10, ITC by 8.85 to 749.80, M&M By 7.30 to 176.20, NIIT by 42 to 1555.10, RIL by 3.55 to 355.20, SBI by 3.15 to 200.40, TELCO by 2.65 to 95.50, TISCO by 2.85 to 114.70 and Zee Tele by 12.85 to 422.95.