Sensex (the BSE sensitive index) started higher at 4822.16 and advanced further to touch the day's high of 4871.34 but crashed thereafter to finish at 4715.67 with a net loss of 42.15 points from the previous close of 4757.82. The BSE-100 index eased by 1.53 points to 2219.41 from the previous close of 2220.94.

Brokers said initially the Sensex had flared up reflecting hefty gains in the index heavy-weights like Hindustan Lever and Reliance which were quoted as high as Rs 2679 and Rs 223.50 as against last Friday's closing rates of Rs 2549 and Rs 211.75 respectively. However, the market turned weak on sellingpressure by speculators amid worries over high badla charges and concerns about possible impact on market from the conviction of former BSE broker Harshad Mehta in a case related to the 1992 securities market fraud.

There was cheerful news for Zee Telefilms, whose scrip rose on news that the company had announced a stock split. The scrip ended at an upper-circuit limit of Rs 5,118. Of the 156 trading specified shares, 93 registered losses while 58 showed sharp to modest gains and five held steady. Ranbaxy was the most active scrip with a turnover of Rs 336.53 crore of the total volume of business of Rs 3087.93 crore.