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Wednesday, December 30, 1998

Sensex loses 8 points

ENS ECONOMIC BUREAU  
MUMBAI, Dec 29: Pivotals generally moved widely on the Bombay Stock Exchange (BSE) today amidst alternative bouts of buying and selling. Several leading stocks closed with losses even as foreign funds remained on the sidelines. Sensex (BSE sensitive index) opened at 3047.74 and moved between 3066.60 and 3014.61 before closing at 3046.29, showing a net loss of 8.44 points as against the previous close of 3054.73. The BSE-100 index declined by 2.23 points to 1354.69 from the previous close of 1356.92.

Brokers said select pivotals attracted profit-taking during the mid-session mainly due to end of the ongoing account on the National Stock Exchange (NSE) and technical considerations of the market. Select scrips like ITC, Zee and Pentafour Software reported sharp decline on speculative selling pressure. Satyam Computer clocked the highest turnover of Rs 307.89 crore of the total volume of business of Rs 1665.92 crore. Telco improved by Rs 1.40 to Rs 174, SBI by Rs 1.30 to Rs 158.90, Tisco by Rs 5.30 to Rs 122.70and BHEL by Rs 4.90 to Rs 266.80 on buying support. However, Pentafour Software dropped by Rs 28.50 to Rs 679.75, Zee Telefilms by Rs 32.50 to Rs 616.25 and ITC by Rs 13.75 to Rs 722.75 on profit-taking.

On the NSE,share prices reacted as operators were squaring up their positions on the last day of the current settlement. The S&P Nifty declined by 7.20 to close at 872.65 from the last close of 879.85. The total turnover was Rs 2023.54 crore. The exchange witnessed 477 scrips advance, 537 scrips declined and 119 scrips remain unchanged. 49 securities had hit their price bands.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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