In A Tight Groove

CSE REPORT

Narrow fluctuations in values and a market contraction in activity were the main features on the Calcutta Stock Exchange as the new week commenced yesterday. Brokers said the general mood was one of extreme caution in respect of new commitments providing for a decline in the turnover. They were disinclined to pick up fresh lots as they were not sure yet as to whether the current levels of prices would be maintained, sources said adding that the marketmen were looking for a new lead.

Some late buying, however, aided select scrips finish above their Fridays rates. This was mostly in the nature of replacement support, sources said. Reflecting the price movements the CSE-50 share index fluctuated between 114.16 points and 112.58 points before finishing of 114.00 points. In the specified list ITC finished at Rs 512, reliance at Rs.339.70 and SBI new at Rs.285.40 while ACC closed at Rs 1283, Tisco at Rs.183.80, Tata Tea at Rs 423.20, Telco at Rs 341.50 and CESC at Rs 43.60.

Among other scrips L&T was pegged at Rs 226.00, Hindlco at Rs 991, Hind Lever at Rs 1349, Hind Motor at Rs 14.60 and Bata at Rs133. The position in the non-specified list was much the same and prices showed a downward curve in some cases due to lack of support.Balarampur Chini closed at Rs.126, BFL Software at Rs.71, ITC Classic at Rs.27.60 and Bank of India at Rs 61.50.