Performance Mous For Public Sector Units Tightened

Indices across he major bourses danced to the tune of the

Reliance Industries Ltd (RIL) scrip, which dominated the

proceedings throughout the week on account of its bonus issue

announcements.

The BSE Sensex closed the week at 4133.74, a gain of 50.70

Points over the previous week's close of 4083.04.

The NSE-fifty index gained 11-30 points over the previous week

to close at 1169.65.

The Reliance scrip came under heavy selling pressure, notably

from domestic institutions and speculators after the declaration

of bonus.

The scrip closed the week at Rs 367 on the Bombay Stock Exchange

and at rs 369.55 on the National Stock Exchage, a gain of Rs 7

 

and Rs 9.95 respectively when compared with last week's closing

levles.

Tata Chemicals, which had kept out of the rally so far, witnessed

a spurt in trading volumes on rumours of a bonus issue. However,

the scrip could not sustain its gains and ran out of steam

towards the end of the week.

Cement sclips staged a come. back With market leader ACC in the

front. Other cement stocks - Madras Cements, Gujarat Ambuja

cement,; Ltd (GACL) and Indian Cements also edged up over their

previous week's levels.

Marketmen said that most of the activity at the Gujarat Ambuja

Cement counter was due to the rumours of a bonus. Side counters

witnessed hectic activity during the week with Finolex Cables,

Asian Paints, German Remedies, Galxo and HDFC basking in the

limemight.

NEW DELHI : A significant rise in Reliance prices was the main

feature of trading on the stock market during the week under

review on hectic buying the FIis and speculators.

Prices of other blue-chip shares also rose due to fresh purchases

by bull operators and financial hours.

The Reliance Industries scrip stole the show on frantic buying by

speculators following reports of a 1:1 bonus issue. The total

volume of transations was a record high of 67.84 lakh shares on

that day.

Marketmen were of the view that selling in the RIL counter was

essentially squarring up due to the end of the current settlement

period.

Reports that the Reserve Bank of India will reduce the bank rate

by one per cent was anogther encouraging factor for the market.

The steady inflow of good working results of many companies also

boosted the markett sentiment.

The benchmark of the Delhi Stock Exchange Sensitive Index

commenced higher at 865.50 points and shot up to close at 883.82

points, showing a notable gain of 23.45 points from the week

before last.

CALCUTTA : With the sentiment bolstered by extended bull support,

industrial equities exhibited a buoyant trend on the Calcutta

Stock exchange during the week ended June 27.