The Bombay Stock Exchange (BSE) sensex tumbled further on Thursday, as players unwound futures positions due to the expiry of March contracts today. Futures contracts expire on the last Thursday of every month.
Dealers warned that the market was likely to turn listless again on Friday as there were no triggers.
After trading in an intra-day range of 31 points, the sensex closed 26.79 points lower at 3,116.79.
Meanwhile, at the National Stock Exchange, the S&P CNX Nifty index shed 11.15 points to end at 1,002.70.
Selling pressure was seen across-the-board. Motorcycles major Hero Honda Motor shed 5.73 per cent to Rs 203.10 on reports that the motorcycle market, which has grown rapidly in the recent past, is expected to hit a roadblock in March 2003.
Scooter major Bajaj Auto dropped 1.40 per cent to Rs 490 on similar concerns.
FMCG giant Hindustan Lever shed 2.48 per cent to Rs 153.15, State Bank of India eased 1.97 per cent to Rs 275.95 and Reliance Industries tumbled 1.55 per cent to Rs 279.80 on selling pressure.
Punjab National Bank touched its new high of Rs 103.90 in intra-day trades, but closed at Rs 102.90, up 4.89 per cent over Wednesday
