MUMBAI, February 20: Pivotals turned once again subdued on the Bombay Stock Exchange (BSE) today mainly on profit taking and lack of fresh buying at the higher level. After a better spell, share prices declined as the session progressed to finish around the day's low. The closing rates showed widespread small losses. The volume of business remained moderate.The BSE sensitive index declined from the intra-day high of 3466.28 to 3409.62 before finishing at 3417.30 with a net loss of 20.34 points compared to the previous level of 3437.64. The BSE-100 index lost 7.65 points to 1471.98 from the previous level of 1479.63. Brokers said that the sentiment was affected mainly due to today being the last session for the current settlement and lack of institutional buying. However, operators maintained that the market would witness a small rally in the new settlement in view of more shares would be coming under carry forward from Monday.
ITC continued to lead the market and recorded the highest turnover of Rs226.99 crore in the total volume of business of Rs 815.61 crore, which was slightly down from yesterday's turnover of Rs 829.43 crore.
On the NSE, pivotals moved in a narrow range and closed with modest losses on bouts of selling pressure. The NSE-50 index resumed weak at 997.10 and closed at 993.65, showing a fall of 3.90 over the last close of 997.55. The Midcap index, after a better start at 1106.40, closed at 1106.00, disclosing a small fall of 0.15 from the last close of 1106.15. The total turnover today was Rs 973.50 crore.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
