Mumbai: Stocks lost early gains and majority of blue-chips even registered marked falls for the second consecutive day, pushing the Sensex down by another 17 points at close on the Bombay Stock Exchange (BSE) today (Nov 6) on late sell-off by retail investors and financial institutions.

Initially, the BSE benchmark 30-share index showed signs of a smart recovery, rising to the intra-day high at 5,118.08 on the back of heavy buying interest. Later, it met with a strong resistance and dipped to the low of 5,030.04 before ending at 5,047.54 from yesterday's close of 5,064.91 a net loss of 17.37 points or 0.34 per cent.

Attributing early smart rally in key counters to hefty net investments of Rs 1,107 crore in the first two sessions of the week by Foreign Institutional Investors (FIIs), market sources said retail investors were extremely cautious and availed any opportunity to book profits at the day's higher price levels in reaction to selling by financial institutions.

FIIs were believed to have pumped in sizeable funds in the bourses during the session.

Had it not been for smart gains scored by key stocks like Infosys Tech, RIL, Satyam Computers, Tisco, Hero Honda and BSES, the Sensex would have fallen sharply at close.

Dr Reddy's Lab, Bajaj Auto, GACL, Grasim Ind, HLL, HPCL, Hindalco, ICICI Bank, ITC, L&T, MTNL, Tata Motor and SBI were prominent losers due to selling pressure.

Tata Motor met with selling despite news that the company has a 39 per cent rise in total sales including exports at 26,862 vehicles in October 2003, compared to 19,306 units sold in the same month of previous fiscal.

PTI