Equities Lose Marginally On Lack Of Buying Support

A lacklustre trading sentiment on BSE yesterday saw equities marginally losing ground. The Sensex ended the day at 4089.20, a gain of 6.16 points over the previous close of 4083.04. Marketmen informed that the trading was sluggish with lack of buying support from FIIs, who restricted their purchases to few select counters.

Marketmen said that despite lacklustre trading the market undertone remained bullish. They expect a minor technical correction sometime this week. Mirroring the general trend, the Sensex opened at 4091.33, touched an intra-day high of 4120.63, a low of 4075.56 before closing at 4089.20.

The scrips in the limelight were Reliance and Telco, which were responsible for supporting the Sensex. Buoyed by the impending bonus, the Reliance scrip continued to attract buyers with the scrip hitting an intra-day high of Rs 372. However selective selling at the counter saw the scrip slipping to Rs 367 at close, a gain of Rs 7 over the previous close. Marketmen said that UTI was selling selectively on an offer basis.

 

The Telco scrip too continued its upward trend on the back on FII purchases with the scrip hitting an intra-day high of Rs 471.25. The scrip closed at Rs 464.25, up Rs 13.25. Among other index scrips Tata Chemicals hogged the limelight with the scrip hitting the upper end of the circuit filter at Rs 179.50, a gain of Rs 16 over the previous close.

Among the other major gainers in the specified group were HDFC, which closed at Rs 3646(+Rs 184), IPCL at Rs 137.50(+Rs 9) and SKF Bearings which closed at Rs 2695.75, a gain of Rs 86.75 over the previous close. HLL and Lakme figured among the losers of the day on news that cosmetics and toiletries would be attracting excise duty linked to the maximum retail price.