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January 6, 1998

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BSE Sensitive Index

Sensex dips 19.59 points

Pivotals suffered a setback on the Bombay Stock Exchange today following speculative selling pressure and lack of buying support from the foreign institutional investors.

Reflecting the trend, the BSE Sensex opened at 3724.43 points, touched the day's high of 3727.24, by registering marginal intraday gain of about 3 points, it fell below the psychological mark of 3700 to touch the day's low of 3684.02. Thanks to the Unit Trust of India, which entered the market at the fag end of session and picked up good stocks of State Bank of India shares, the Sensex closed at 3684.02, losing 19.59 points over the previous close of 3739.21 points.

According to marketmen, the market moved in a narrow range in view of continued fall of Asian currencies against the US dollar, the last day of trading settlement on the National Stock Exchange also restrained major players from making fresh commitments and the staying away of FIIs from the market reflected into a weak spell on the BSE, they said.

The Tata Tea scrip also attracted good demand at the end of trading.

The BSE-100 index fell by 8.18 points to 1619.21 as against the previous close of 1627.39 points.

The BSE-200 and Dollex indices closed lower by 2.29 and 2.04 points to 362.65 and 152.25 points as against the previous close of 364.94 and 154.29 points respectively.

The total turnover on the BSE increased to Rs 9 billion from yesterday's Rs 8.2 billion.

Tobacco giant ITC topped the list of turnover by registering highest turnover of Rs 2.7 million, followed by State Bank Rs 1.3 billion, Tata Tea Rs 1.2 billion, Reliance Rs 667.7 million, and Castrol Rs 526.1 million.

Hectic activity was observed at the other counters like TELCO Rs 271.4 million, TISCO Rs 169.1 million, Hind Lever Rs 136 million, BPL Rs 122.8 million, L&T 108.4 million, ACC Rs 101.9 million, ICICI Rs 99.7 million, Bajaj Auto Rs 82.5 million, BHEL Rs 69.2 million and IPCL Rs 56.7 million.

Active trading witnessed in the B1 group in the scrips led by Corporation, Infosys Tech, Pun Tractor, Kin Honda, NIIT, LML, Carr Aircon, Rassi Cement, Reliance Pet, Ingersoll, Bata India, Videsh Sanch, Vashisti Det, Satyam Comp and Kotak.

UNI

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