Marketmen said selling was usual as brokers reduced their outstanding positions by the end of settlement to reduce carry-forward margins on their portfolios.

They said foreign institutional investors kept on selling to book profit and maintain gains in their books before the year-ending by December.However, software shares, despite a weak trend, were swinging in wild manner before ending with smart gains enthused by reports of Nasdaq's record hike in recent sessions.

In New York, the Nasdaq composite index closed on Thursday higher by 41.33 points at 3197, a ninth record in 10 sessions. Traders said there was some caution in the market because of uncertainty over investments by foreign funds and concern over Y2K problems. Others felt that technical correction was over after the index returned from an all-time high of 5075.39 points on October 14, and if not software, shares of cyclic segment and other might resume their upward march.

Satyam Computers gained Rs 73.05 at Rs 1788, Silverline by Rs 15.95 at Rs 454, Aptech Ltd by Rs 21 at Rs 1104, Software Solution by Rs 5 at Rs 1068, Rolta India by Rs 6 at Rs 143, Pentafour Software by Rs 16.25 at Rs 697.80, Digital Equipment by Rs 13 at Rs 663, Global Tele by Rs 2.55 at Rs 520 and HCL Info by Rs 18.90 at Rs 456 on foreign funds' support.

Shares like Ballarpur Industries, Jaiprakash Ind and Reliance Industries, after touching lower levels, shot up to hit circuit breaker and remained freezed.

Other better spots were Ranbaxy, Reliance Capital, ACC, Apollo Tyres, BPL, Bata India, ITC Ltd, L & T, Telco and Tisco on investment buying. Zee Tele gained Rs 218 at Rs 5100 on brisk buying by speculators and interested parties.

However, Dabur India dropped sharply by Rs 71 at Rs 940, Hero Honda by Rs 88 at Rs 1175, HLL by Rs 88 at Rs 1175, Himachal Futuristic by Rs 12 at Rs 324, Castrol by Rs 3.50 at Rs 372, Colgate by Rs 5 at Rs 232.80, Escorts by Rs 3.90 at Rs 157.90, MTNL by Rs 4.80 at Rs 182, Moser Baer by Rs 8 at Rs 189, Sterlite by Rs 4 at Rs 380, Tata Tea by Rs 2.30 at Rs 540.50 and Bajaj Auto by Rs 5 at Rs 418 on profit selling by speculators.