The DSE index declined by a whopping 22.60 points, or almost two per cent to close at 1100.21 points largely attributed to steep fall in index-linked cyclicals and heavy-weighted multi-national company shares value.

Stock brokers said announcement of disappointing earnings by automobile major TELCO and tobacco giant ITC Ltd and lower than expected results by Tata Tea adversely affected sentiments to a certain extent.

They said end of settlement period and tomorrow's national holiday were the other reasons behind today's fall in stock prices, particularly, traditional blue-chips.

However, foreign institutional investors (FIIs) were reported to have made sizeable purchases at several IT stocks apart from some private sector banking companies. ``Buoyancy in software computer and IT sector stocks kept market sentiments bullish'', said a DSE broker. ``It seems players are booking profits in cyclical stocks and enlarging their positions in favourite it stocks'', he added.

Among prominent gainers in the IT segment, Satyam Computer in volatile trading gathered Rs 30 at Rs 2801 after bouncing between Rs 2715 and Rs 2836 on alternate bouts of hectic buying and selling.

NIIT Ltd stock prices remained distinctly bullish for the better part of the session after reports that company had tied-up with Microsoft's for software programmes and share prices flared up to Rs 2807.55 before settling Rs 210.55 higher at Rs 2803.55.

Aptech Ltd's share went up to Rs 2019.90 mostly on the back of anouncement of a liberal bonus shares issue in the ratio of 1:1 amidst excellent working results but profit-taking at the fag-end pared some of earlier gains and ended Rs 30 higher at Rs 1980.

Digital Equipment shares after yesterday's technical correction, bounced back to close Rs 58 higher at Rs 1448 on renewed buying.

Global Tele share spurted by Rs 49.35 to close at Rs 1207 after touching an all-time high of Rs 1218. Himachal Futuristic too remained buyers fancy and rallied to scale new peak of Rs 976 but profit-taking trimmed earlier gains and closed Rs 49.60 higher at Rs 961.50.