MUMBAI, May 22: Share prices moved narrowly on the Bombay Stock Exchange (BSE) mainly on absence of speculative support in view of end account considerations. After a better spell, pivotals declined slightly on profit taking. The closing rates showed minor losses. The volume of business dropped. The closing undertone appeared steady.The BSE sensitive index fluctuated between 3930.65 and 3881.83 before closing at 3897.10 with a small loss of 11.69 points compared to the previous level of 3908.79. The BSE-100 index eased by 4.85 points to 1725.25 from the previous close of 1730.10.
Brokers said that sentiment was steady mainly on lack of any worthwhile buying from operators as well as foreign institutional investors. ITC attracted brisk activity on announcement of the company's financial results with its net profits rising sharply to Rs 526.20 crore. The board of directors stepped up the dividend to 45 per cent from 40 per cent last year.
The volume of business was low at Rs 1280.72 crore compared toyesterday's turnover of Rs 1454.88 crore. ITC continued to be the most active scrip with a turnover of Rs 425.54 crore.
On the National Stock Exchange (NSE) closed with marginal gains on lukewarm support from investors. The NSE-50 opened at 1126.10, traded between 1118.50 and 1131.25 and closed at 1126.55, with a minor gain of 0.40 point over the previous close of 1126.15. The Midcap opened at 1634.10, moved in the range of 1622.25 and 1643.90 and closed at 1640.35, with a gain of 6.00 over the previous close. The total turnover was Rs 1782.58 crore.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
