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War rumour depresses Sensex by 49 points

According to dealers, the infotech counters suffered badly while the pharmaceutical counters witnessed a mixed trend.

Reflecting the downtrend, the 30-share BSE Sensitive Index opened at 3965.97 points, touched the day's high of 4001.98, then crashed by 109 points to touch a low of 3892.30 before closing at 3901.73, a net loss of 49.23 points from the previous close of 3950.96 points.

During the mid-session, there was a rumour in the market that India had attacked Pakistan-occupied Kashmir, which resulted in a sharp decline in the share prices due to heavy selling by operators, dealers said.

The broad-based BSE-100 index too declined sharply by 23.49 points to 1689.28 from the previous close of 1712.77 points.

MVXL Instruments, Bharat Forge, Ashok Leyland, Bharat Electricals and Tamil Nadu Newsprint witnessed heavy buying despite the bearish phase, dealers said.

Glaxo and Novartis also reported considerable gains in the pharma counters. Institutional buying support was witnessed in counters like Aptech, Crisil, Gujarat Ambuja, Global Telesystems, Gujarat Narmada Fertiliser Corporation, Hindustan Lever Limited, National Aluminium, Punjab Tractors, Steel Authority of India, and Zee Telefilms.

The BSE-200 and Dollex indices dropped by 4.85 and 2.04 points to 385.23 and 148.54 from the previous closing figures of 390.08 and 150.58 points, respectively.

UNI

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