MUMBAI, DEC 9: After a better start, share prices on the Bombay Stock Exchange (BSE) declined today on profit taking coupled with lack of institutional support at the higher level. Reports of raids conducted by Income Tax officials on BSE brokers also made market men cautious. The volume of business remained moderate. The closing undertone appeared subdued. The BSE Sensitive Index dropped from the inter-day high of 2979.51 to finish at 2950.21, showing a marginal gain of 4.57 points from the previous close of 2945.64. The BSE-100 index advanced by 0.22 point to 1308.11 against the previous close of 1307.89.Barring selected scrips like Hindustan Lever, Voltas, Novartis and MTNL, most of the heavy weighted counters suffered setback. The foreign funds have made purchases in selected scrips like ITC, MTNL, Reliance, Satyam Computer, Glaxo and Corporation Bank. FIs sold stocks worth Rs 13.5 crore on the local bourses. Share prices of Sun-Pharma and Pentafour dropped significantly on the BSE and NSErespectively. Sun Pharma lost by Rs 19 to Rs 280.50 and Rs 16.95 to Rs 279.05 while Pentafour Software fell sharply by Rs 26 to Rs 500 and Rs 27.95 to Rs 499.05 at the BSE and NSE respectively. Total turnover on the BSE reported during the day was Rs 1277.70 crore.
On the NSE, share prices maintained their upward march on the first day of the current settlement due to increased buying by the FIIs. The S&P CNX Nifty improved by 3.55 pts to end at 856.55 from yesterday's level of 853.00. The market witnessed a turnover of Rs 1,538.94 crore from 608.44 lakh shares and in 1,95,894 trades.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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