Trading Subdued

Select blue chip stocks, led by ITC, firmed up due to higher close on the Delhi Stock Exchange (DSE) yesterday following buying by foreign institutional investors (FIIs) and speculators coupled with huge short covering.

Marketmen said while FIIs resumed their buying activity though selective, domestic financial institutions were seen on the sideline. The market commenced on a somewhat subdued note due to absence of necessary buying activity coupled with some profit selling. Thereafter, on revivals of buying in multinational companies stocks by FIIs aided the sentiments. However the DSE sensitive index declined by 1.92 points to close at 770.41 points due to drop in index weighted share prices.

ITC after showing a some weak trend at the outset of the session due to slackness in buying support followed by some selling by operators, made a strong rally towards the middle of the session to flare upto close at Rs 421.30 against Wednesday's close of Rs 409.45. Bajaj Auto ended the session at Rs 892.75 as compared to the earlier close of Rs 930.