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Wednesday, April 29, 1998

Market Briefing 

FE NEWS SERVICE  
Mumbai bourse closed on April 28, NSE open: The Bombay Stock Exchange remained closed on Tuesday for "Chhatrapati Shivaji Jayanti". The National Stock Exchange was, however, open for dealings.

OTCEI Index ends unchanged: Share prices ended on a firm note at the OTCEI on Tuesday on restricted activity. The OTCEI Composite Index opened steady at 111.04 and after moving in a narrow range, closed at the same level, showing no change from the previous close.

DSE Index loses 5 points: Share prices lost ground at the Delhi Stock Exchange on Tuesday following massive selling pressure. The DSE Sensitive Index dropped by 4.99 points to close at 890.61 points. Reliance lost Rs 1.05 to end at Rs 196.90 largely on selling by speculators.

CSE shares end down: Equities lost fresh ground on the Calcutta Stock Exchange on Tuesday in listless trading as buyers continued to stay on the sidelines. Both investors and speculators preferred to wait and watch. The 40-share CSE Index finished at2,226.31 points, the highest and lowest being 2,251.79 and 2,222.53 points respectively.

Skindia Index down 1.15%: The Skindia GDR Index dropped by 1.15 per cent from 937.95 to 927.13 on April 27. The Skindia GDR Index p/e ratio was 20.23 on April 27 compared with 20.34 on April 24. The top gainers were ITC, Raymond Woollen and State Bank of India which quoted at $22.50 ($22.25), $6.75 ($6.70) and $19.00 ($18.90) respectively. Losers included Indo Gulf, CESC and Ashok Leyland.

HK stocks roar back to close firm: Hong Kong stocks staged a comeback in afternoon trade to close Tuesday higher as investors covered short positions and hoped Wall Street was heading for recovery, brokers said. The Hang Seng Index ended up 84.90 points, or 0.80 per cent, at 10,678.61 after hitting a low of 10,302.58.

Singapore shares close morning lower: Share prices closed the morning session lower here Tuesday following Wall Street's sharp losses, but low volumes and bargain-hunting cushioned the negativeimpact, dealers said. The Straits Times Industrials index was down 9.25 points, or 0.6 per cent, at 1,462.22.

Taiwan shares down 0.4%: Taiwan share prices closed 0.4 per cent lower Tuesday depressed by sharp overnight losses on Wall Street, dealers said. The Taiwan Stock Exchange weighted price index dropped 36.95 points to 8,434.67.

Japanese stocks close down: Japanese share prices closed 1.6 per cent lower Tuesday as declines on Wall Street the previous day alarmed investors, brokers said. The Nikkei stock average of 225 selected issues on the Tokyo Stock Exchange fell 254.52 points to close at 15,395.43.

Philippine shares rise: Philippine share prices rose 0.2 per cent Tuesday in a technical rebound, analysts said. The Philippine Stock Exchange Composite Index rose 4.5 points to close at 2,126.69 points. Turnover dropped to 585.32 million shares.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.



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