Pivotals Move In Narrow Range On Dull Trades

A mixed trend was seen on the Bombay Stock Exchange (BSE) yesterday with equities moving in a narrow range to marginally recover on short covering by operators coupled with selective buying from Foreign Institutional Investors (FIIs).

Domestic institutions, particularly LIC and GIC were buyers in select counters. According to market sources domestic institutions bought heavy weighted stocks like ITC, Reliance, Tisco, Tata Power, HLL and Castrol, while FIIs were aggressively sellers in automobile stocks like Telco and Bajaj Auto and buyers in ITC, HLL, RIL and Castrol. The 30-scrip BSE Sensex opened at 3,360.40, moved up to touch the days high of 3,363.33, and later dropped to touch a low of 3,326.17 before closing at 3,354.88, showing a minor gain of 0.08 over the previous close of 3354.80.

 

The BSE-100 ended with a loss of 3.69 points at 1,451.14 from the last close of 1,454.83. While the BSE-200 closed lower at 323.24 and the Dollex at 138.63 from the previous close of 324.31 and 139.27 respectively.

Pharmaceuticals scrips that hogged the limelight were Glaxo, which closed at Rs 383, gaining Rs 25. Ranbaxy at Rs 696, up a rupee, Burrough Welcome at Rs 325, gaining Rs 29, German Remedies at Rs 292(+Rs 7), Lakme at Rs 272 (+Rs 9) and Pfizer at Rs 422 (+ Rs 10)

Other gainers were ITC, up by Rs 12 at Rs 587 and RIL by Rs 1.20 at Rs 157.80. The stocks that moved down were Tata Tea by Rs 1.75 at Rs 408, SBI at Rs 244 (-Rs 2), Telco at Rs 223 (-Rs 8), Hindalco by Rs 18. The total volume on the BOLT system was Rs 927.81 crores. ITC was the leader with a turnover of Rs 295.28 crore, Tata Tea followed with Rs 105.99 crore, Reliance with Rs 84.38 crore, Castrol with Rs 71.87 crore and SBI with Rs 65.87 crore. According to brokers at the BSE the market will remain lacklustre for sometime and is likely to move in a narrow range. Our Financial Bureau