Mumbai, Sept 6: The overall sentiment remained bullish on Wednesday and second line stocks attracted huge buying support. The advance-decline ratio also remained positive throughout the day. The net impact on the Sensex, however, was a gain of just 8 points. The trading volume was also quite high on both the exchanges and the combined volume was close to its all time high volume.Among the top counters, HFCL, and Sterlite showed smart gains. While HFCL gained more than 6 per cent, Sterlite was up by 4 per cent. DSQ Software also attracted strong buying in the second half. Infosys, Zee Telefilms and SSI remained weak for the day. In the non-software segment, Reliance, and HLL witnessed strong buying and gained more than 2 per cent each. MTNL, ITC, L&T, and ACC closed in negative territory. Mirroring the sentiment, the BSE Sensitive Index opened at 4577 points, touched a peak of 4640 points, and closed at 4606 points.
The low for the day was 4571 points. The number of advances stood at 854, and the number of declines was at 580. Around 131 stocks remained unchanged. Foreign institutional investors (FIIs) have slowed down their purchases over the last couple of sessions after whetting the appetite of traders by buying heavily in the beginning of the month. As a result, outstanding positions have gone up in the current week to Rs 2,800 crore level. Activity in the ALBM session on NSE on Wednesday also suggests that the build-up is spilling over there. The anticipated fall in volumes apparently did not happen and there were substantial volumes in key counters like Satyam, Pentamedia, Wipro and Silverline with the average yield working out to 16 per cent against 18 per cent in the immediately preceding session on August 30.
Meanwhile, the Nasdaq Composite Index dropped by over 91 points last night and seems to have affected sentiment in the domestic bourses also. Marketmen feel a further slide in the Nasdaq composite could dampen sentiment for software stocks on the domestic bourses.
The stocks which gained more than 7.9 per cent were Vikas WSP, McDowell, DSQ Bio, Kale Consult, IDBI, Hinduja Finance, Melstar Info, Sierra Optima, LML, TVS Elect, Tata Telcom, Vans Info, Alok Textiles, Citicorp.
Other gainers for the day were Tata Tea, HFCL, Fujistu, Nestle, Maars Soft, Hind Zinc, Sibar Soft, PSI Data, Valiant Com, Aurobindo Pharma, Sandesh, IDBI Bank, Mobile Tele.
At the same time, stocks which dipped more than 7.9 per cent were Padmini Poly, Top Cassettes, Advent Comp, Lupin Lab, Amtek Auto, Innovations, PCS, Monalisa Mul, Octogon Tech. Other losers for the day were HCL Tech, Gramophone, Jaiprakash, Parikh Plat, Cinerad Com, Veronica Lab, Vision Tech.
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