MUMBAI, JAN 14: Brokers said the operators were busy squaring up business a day ahead of the last session of the current settlement. FIIs have been very cautious on their fresh allocations to emerging markets such as India due to Brazilian economic and financial debacle, followed by the devaluation of the Brazilian real on Wednesday. FIIs were net buyers in Infosys Technologies, Satyam Computer, NIIT and Telco.A fall in the Indian global depository receipts (GDRs) market in London also led to nervous selling. Telco, Ashok Leyland and Balrampur Chini Mills from the specified group hit their upper price band after exhausting their daily limits.
The total volume of business was lower at Rs 1653.63 crore from yesterday's volume of Rs 1890.46 crore. Satyam Computer continued to be the most active scrip with a turnover of Rs 361.64 crore and the scrip spurted by Rs 20.25 to Rs 906.75. Telco shot up by Rs 16.60 to Rs 224.30 and ITC by Rs 2.50 to Rs 808.00. Pentafour Software declined by Rs 7.25 to Rs 758.00 and Zee Telefilms by Rs 20.25 to Rs 638.00.
On the National Stock Exchange (NSE), equities suffered a further setback due to continued offloading by FIIs as well as domestic funds. Operators were reluctant to take any long positions in the wake of sustained institutional selling. The S&P CNX Nifty declined by 6.45 points to close at 954.75 from the yesterday's close of 961.20.
The total volume of business was Rs 2722.81 crore. Declining issues took the lead over advancing ones, with 668 decliners, 339 winners and 75 remaining unchanged. About 63 scrips had hit their price bands.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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