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Saturday, January 2, 1999

Small rise in share prices

ENS ECONOMIC BUREAU  
MUMBAI, JAN 1: The Bombay Stock Exchange (BSE) greeted the new year with a small rise in share prices in a lacklustre trading session on Friday. Sensex could hardly record a 5 point gain as operators who were in a holiday mood kept away from building up fresh positions.

Sensex (BSE sensitive index) started better at 3064.05 and moved between 3078.19 and 3042.25 before closing at 3060.34, with a minor gain of 4.93 points from the previous close of 3055.41. The BSE-100 index advanced by 3.20 points to 1362.23 from the previous close of 1359.03. Sensex had lost by 55 points on Thursday.

Software shares continued to steal the show with handsome advances particularly in Pentafour Software, Satyam Computers and Novartis on speculative buying. Pharmaceutical shares also fared better on interested buying. Infosys Tech, Hindustan Lever, Burroughs Welcome, Madras Cement and Titan suffered setbacks on squaring up positions. The total turnover was Rs 1174.11 crore. ITC was in the lead with a turnover of Rs 172.98crore. ITC gained by Rs 4 to Rs 754, Satyam by Rs 11.75 to Rs 739.25, Pentafour by Rs 34.50 to Rs 741, Zee Telefilm by 75 P to Rs 640.75 and Reliance by Rs 1.70 to Rs 121.50 on buying support.

On the National Stock Exchange (NSE), prices of select shares recovered moderately in thin trading activity. The S&P CNX Nifty improved to 890.80 from 884.25. The total turnover was Rs 1,612.19 crore. The exchange witnessed 530 scrips advance, 395 scrips decline and 95 scrips remain unchanged while 35 securities had hit their price bands.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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