Bear Phase Surfaces Afresh, Scrips Shed Early Gains

The BSE -200 moved down from 1476.72 to 1469.93 losing 6.79 points. The BSE-200 and Dollex finished at 327.08 and 151.81 compared to 327.98 and 152.23 on Tuesday, losing 0.90 and 0.42 points respectively.

The bourses are at present at crossroads and unable to set their trends because of several factors, including the uncertainties about the coming budget. The conditions were depressed despite the prime ministers assurance on capital market reforms for reviving the sentiments. The other negative point is that the FIIs have turned sellers. They were net sellers to the tune of Rs12 crore on February 3. The inflow of investible funds has been declining and the main reason is heavy losses suffered by the retail investors because of the prolonged bear-phase.

 

The leading bulls are unlikely to take active interest till they get clear a picture about the policy decisions. The index is likely to fluctuate between 3300 and 3450 in the next sessions. The government should release the package without further delay for regaining the confidence of general inestors. Out of total turnover of Rs 646.80 crore, RIL recorded the highest business volumes of rs.213.94 crore followed by SBI (Rs184.36 crore), ITC (Rs 70 crore), Tisco (Rs 53 crore) and GACL (Rs 16 crore). Hectic activity was also seen in Telco Rs 11.80 crore, BSES Rs 11.71 crore, L&T Rs 8.75 crore, Bajaj Auto Rs 7.04 crore, ACC Rs 6.32 cr.