MUMBAI, November 4: Pivotals moved widely on the BSE today. After a better spell, share prices declined during the mid-session on selling pressure. However, several scrips recovered partially at the end on fresh buying support by the financial institutions. The closing rates showed small widespread gains.The volume of business continued to be below normal.

The BSE sensitive index opened at 3799.55 improved further and touched the day's high of 3852.24, but turned weak at 3782.94 during the mid-session before finishing at 3805.95,with a small gain of 15.13 points over the previous close of 3790.82 points. The BSE-100 index gained by 4.86 points to 1644.07 points over the previous close of 1639.21 points.

The brokers said that after a long gap, the FIIs participated in the market by buying in select scrips. Besides, the report of BSE's decision to start revised carry forward trading system from November 10 also had a positive impact on the trading sentiment.The volume of business recovered to Rs 859.80 crore with ITC leading the table with a turnover of Rs 431.92 crore.

Among other leading scrips, Reliance showed a turnover of Rs 92.51 crore, Tata Tea Rs 58.11 crore and Telco Rs 26.45 crore. ITC gained Rs 5 at Rs 573.25 on short covering. Reliance declined by Rs 2.75 to Rs 185. and Telco with Rs 6 at Rs 333.

On the NSE, share prices recovered in fresh bouts of buying.The NSE-50 index, after a weak start at 1083.80, recovered to 1097.05 and closed at 1090.20, showing a gain of 6.20 over the last close of 1084.00. The Midcap index opened better at 1238.70 and after touching a high of 1243.50, ended at 1238.30.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.