Thin volume and narrow movements marked the trading on Cochin Stock Exchange during the week under review as the cash-strapped operators desisted from taking fresh positions. The 15 per cent margin imposed by the exchange has also curbed the speculative activity on the exchange. The liquidity in the market was thin and the market remained in the firm grip of bear operators. Dealers said that the tight money position in the market was a major reason for the thin volume during the week. Roumors about an imminent hike in petroleum prices also affected the sentiments, they said.

However, stocks from the infotech industry, like Sathyam Computers and Infosys Technology made moderate gains during the week. Banking stocks, which stole the show last week, settled at lower levels.

The week opened on a week note with the CSE share price index opening low at 198.15. The following days saw the index going down to 197.87 and hovering over that band. The index closed in the week at 198.35.

Operators, who had resorted to selling pressure on Thursday on rumours of hike in petroleum prices, squared off their short positions on the last day of current settlement.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.