Friday, July 21 2006 16:53 Hrs (IST) - World Time -

Mumbai: Ignoring robust first quarter earnings by major corporates Satyam Computers, Tata Steel and ITC, the Bombay Stock Exchange benchmark, Sensex, today (July 21, 2006) fell by a huge 267.03 points to 10,085.91 points, taking a cue from weak global markets.

The market had recovered by 346 points or 3.45 per cent in a brief rally yesterday after a five-day of losing string.

The 30-share sensitive index (Sensex) gradually moved downwards after a subdued start at 10,336.38 points and later ended the day at 10,085.91 points from Thursday's close of 10,352.94 points, a net fall of 2.58 per cent.

Similarly, the National Stock Exchange's (NSE) S&P CNX Nifty dipped by 78.05 points or 2.58 per cent to 2,945 points from last close of 3,023.05 points.

Attributing a dramatic reversal in trend to negative reaction in world markets, brokers said the release of first quarter results by Satyam Computers, Tata Steel and ITC failed to enthuse the market sentiment.

According to market players, earnings of these companies are far beyond market expectations.

"Foreign Institutional Investors (FIIs), which coveredpositions amounting to Rs 1,460 crore in futures on Thursday, were believed to be buyers, albeit in small quantity, during the day," they added.

Asian and European equity markets showed weak trend.

Twenty-seven stocks of the Sensex pack registered sharpto moderate losses due to heavy selling pressure by retail investors as well as domestic funds.

Initially, Satyam Computers and BHEL witnessed a strong rally as the former revised its current year guidance while the latter convened its board meeting on July 28 to consider a bonus issue and a stock split.

The trading volume remained low at Rs 2,404.43 crore. RIL continued to be the top traded scrip with highest turnover of Rs 309.63 crore followed by Satyam Computer (Rs 208.06 crore), Tata Steel (Rs 154.94 crore), Sterlite Ind (Rs 83.55 crore) and REL Capital (Rs 76.37 crore).

The broad-based BSE-100 Index fell back sharply by 129.71 points to 5,082.27 from previous close of 5,211.98.

The BSE-200 Index and the Dollex-200 were quoted sharply down at 1,194.03 and 425.04 at close compared to last close of 1,224.34 and 435.04 respectively. The BSE-500 Index dropped by 95.37 points to 3,771.77 from previous close of 3,867.14 and the Dollex-30 ended lower at 1,770.47 from 1,814.05.

RIL tumbled by 28.15 to 967.55, L&T by 111.65 to 2022.35, TCS Ltd by 40.45 to 1767.25, Grasim by 93.85 to 1883.20, HDFC Bank by 17.30 to 709.30, ICICI Bank by 7.30 to 484.75, ITC by 7.75 to 167.20, ONGC by 30.85 to 1049.65, Wipro by 22.45 to 447.60, SBI by 9.70 to 716.05, BHEL by 21.15 to 1787.35, Bajaj Auto by 40.20 to 2459.65, Dr Reddy's Lab by 21.30 to 1242.35, Infosys Tech by 44.55 to 1063.05, Hindalco by 6.75 to 157.45, Maruti Udyog by 25.35 to 711.15, Reliance Comm by 10.95 to 238.30, Tata Steel by 3.55 to 483.55, Tata Motor by 14.45 to.10, NTPC by 4.65 to 108.90, HLL by 7.35 to 223.85, HDFC by 8.80 to 1070.95, Hero Honda by 9.15 to 709.70, ACC by 24.95 to 788.45, Bharti Ar by 6.50 to 357.60 and GACL by 3.85 to 99.60.

However, Cipla improved by 2.40 to 220.15, Ranbaxy by3.85 to 353.75 and REL by 2.25 to 439.30.