MUMBAI, Feb 10: Pivotals remained weak on the Bombay Stock Exchange (BSE) today on absence of speculative support coupled with lack of institutional buying. Being the last session for current settlement at the National Stock Exchange (NSE) most of the operators sold blue chip stocks to square up their position. The volume of business remained thin.The BSE sensitive index started lower at 3345.18, touched day's high of 3351.50, low of 3315.81 before closing at 3317.70, with a net loss of 30.65 points as against the previous close of 3348.35. The BSE-100 index finished at 1427.92, losing 13.80 points.
Brokers said that blue chips counters lost further ground on lack of support from domestic as well as foreign funds. Volumes were thin in subdued activity as the foreign institutional investors (FIIs) kept away owing to mounting tensions in Gulf. The high interest rates and fall of rupee value also added fuel to the fire. The total turnover amounted to Rs 641.75 crore.
ITC chipped in with a turnover of Rs193.58 crore, Tata Tea with Rs 102.67 crore, Castrol with Rs 70.76 crore and SBI with Rs 35.69 crore.
On the NSE, market sentiment weakened and pivotals witnessed a gradual decline as operators sold heavy weight shares to square up their positions on the last day of the current settlement. The NSE-50 index opened steady at 976.10 and closed at 963.70 showing a net loss of 12.40 points. Dollar NSE-50 (Defty) index finished at 860.50 decreasing 12.40 points. The Mid-cap index also declined considerably by 14.50 points to close at 1060.30 . The total turnover was Rs 926.84 crore.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
