Mumbai, Oct 4: Dull trading continued on Wednesday as the stock prices moved in a narrow range despite the fall in the Nasdaq. Stock prices opened on a weak note in the morning in the wake of the Nasdaq fall but recovered partially in the afternoon with Sensex closing 25 points higher at 4,160.41. At the NSE, S&P CNX Nifty also was up 13 points to close at 1,295.For the second day in a row, old economy stocks remained in limelight. But on Wednesday pharma stocks was in keen demand on value buying. Buying witnessed in Cipla, German Remedies, Pfizer and Sun Pharma counters. Other old economy stocks also remained firm. However the tech stocks remain weak even tough there was not much selling in most of counters from this sector.
Some active buying was witnessed in the last hour of trading in the Philips stocks as it ended 6 per cent higher at Rs 60.7 in anticipation of hiving-off the company's lighting divisions.
Despite the weak trend in the markets for tech stocks, Pentamedia stocks topped the volume list followed by Satyam Computers and Infosys Technologies. Turnover on the BSE was also average with business worth Rs 3,488.54 crore.
Dealers said select buying was witnessed in some of the old economy stocks but FIIs remained absent from the buyers list for another day. On Tuesday FIIs remained net sellers for equity worth Rs 111.5 crore.
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