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Saturday, November 13, 1999

Stocks remain subdued

ENS ECONOMIC BUREAU  
NOVEMBER 12: Share values remained subdued on the Bombay Stock Exchange (BSE) mainly due to lack of speculative support and absence of institutional buying in lacklustre trade on the last day of the current settlement today.

Sensex (BSE sensitive index) opened at 4653.09 and moved between 4657.30 and 4596.91 before closing at 4629.61 with a small loss of 9.75 points as compared to the previous close of 4639.36. The BSE-100 index eased by 4.62 points to 2161.19 as against the previous close of 2165.81.

Barring select software pivotals like Mastek, Satyam Computer, Pentafour Software and Zee Telefilm, most of the counters witnessed limited activity during the session. As it was the last day of weekly trading cycle, players were busy in squaring up their positions.

Dealers said trade was listless in the absence of market-moving news and little institutional support. But select buying in index-based shares like Hindalco, Gujarat Ambuja Cements and Mahindra & Mahindra helped sentiment, they said.

Hindalcoclosed Rs 23.50 higher at Rs 847.55, Gujarat Ambuja Cement Rs 5.25 at Rs 572.45 and Mahindra & Mahindra Rs 11.50 at Rs 390. Hughes Software ended Rs 108.05 lower at Rs 1,410.85 on profit-booking after its huge premium listing on Thursday. Other big losers were NIIT down Rs 55.75 at Rs 2,340 and Hindustan Lever down Rs 37 at Rs 2,338.

Shares of Siemens Ltd were volatile after it announced a turnaround in results for the year to September 30. The share ended Rs 3.95 up at Rs 474.95, off the day's high of Rs 500. Data from the BSE showed 892 issues declined, 670 advanced while 142 traded shares were unchanged. The total traded volume was 63.86 million shares compared to 64.74 million on Thursday.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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