Mumbai, Sept 29: After a four-day spell of extremely volatile trading, the market witnessed dull movements on Friday, and the net impact on the Sensex was a gain of 23 points contributed largely by a strong rebound by HLL. The trading volume was also very low at Rs 3,951 crore. The forthcoming holidays had their impact on volume.Institutional activity was low key and the FIIs and the domestic funds remained largely inactive. On Thursday, FII reported net purchases of Rs 93.70 crore taking the month's tally to Rs 142 crore on gross turnover of over Rs 13,500 crore.
The tech stocks opened firm in the morning but remained in narrow range for rest of the day. At the end stocks like HFCL, Global Tele and Zee Tele also gained two per cent each. At the same time, Sterlite was a major loser and was down more than 5 per cent at Rs 171. Silverline and DSQ Soft also dipped marginally.
Other stocks like Reliance, ITC, ICICI, SBI and MTNL showed a negative close while Bhel, BPCL and HPCL showed a sharp dip. Despite an announcement of one for one bonus issue, BPCL fell on profit-booking and the share closed at Rs 162.50, down by Rs 17.30.
Reflecting the trend, the BSE Sensitive Index opened firm at 4,122.28 aided by a 122-point spurt in the Nasdaq Composite Index last night.
It gradually declined on profit-booking by operators to touch a low of 4,056.72 before closing at 4,090.38 as against yesterday's close of 4,067.38, a small gain of 23 points.
The BSE-100 index improved by 8.09 to 2,075.67 compared with last close of 2,067.58.
Similarly, the S&P CNX Nifty gained 7 points and closed at 1,273 points. The high for the day was 1,284.15 points whereas the low for the day was 1,264 points.
The advance-decline ratio remained negative for a major part of the day. While advances stood at 560, the number of declines was at 846. Around 156 stocks remained unchanged.
The BSE will remain closed on October 2, 2000 on account of "Gandhi Jayanti". Global Telesystem was the highest traded stock with a turnover of Rs 473.19 crore. Other top traded shares were Himachal Futur (Rs 470.52 crore), Zee Tele (Rs 450.51 crore), Satyam Computer (Rs 430.87 crore) and Infosys Tech (Rs 358.14 crore).
The stocks which gained more than 7.9 per cent were Hinduja Finance, GV Films, Amaraja Batt, Pun Com, Himalaya Int, Wordwide Tele, Synergy Log, Mobile Tele, Mirc Elect, Jain Studio. Other gainers for the day were HDFC Bank, Top Cassettes, Mascon Global, Twinstar Soft, Monalisa Mul, Alfa Laval, VXL Inst, Tamil Tele.
Global Tele rose by Rs 19.85 to Rs 1159.10. Himachal Futur firmed up by Rs 9.55 to Rs 1359.55, Zee Tele by Rs 9.60 to Rs 448.95 and Satyam Computer by Rs 4.60 to Rs 487.25.
However, Infosys Tech declined by Rs 13.75 to Rs 7,343.60, BHEL by Rs 7.55 to Rs 104, NIIT by Rs 10.50 to Rs 1,425.50, RIL by Rs 3.45 to Rs 342.60.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.