Pivotals Plumb Low Levels As Listless Trading Continues

Listless trading continued on the Bombay Stock Exchange (BSE) yesterday on low sentiment, with the BSE Sensex closing at 3,292.91, down 24.79 points over the previous close on lack of buying support.

The Sensex touched an intra-day high of 3,342.08 but failed to sustain at these levels because of continuous supply from operators and domestic institutions.

The Hindustan Lever stock lost ground at major bourses ahead of its results though the market expects a 40 per jump in net profits over the previous year. The market was agog with rumours that Unilevers performance could have an impact on Indian operations. On the BSE, the scrip closed at Rs 1,378, down Rs 15 over its previous close.

 

Among key index stocks the Reliance scrip closed at Rs 152.40(-Rs 4.20) while ITC closed at Rs 593.25(+Rs 5). WI Carr and Crosby Soc Gen were among the broking houses rumoured to be aggressive during intra- day trading. Marketmen said FIIs were making purchases in index stocks, but in a small way. LIC was reported to be buying at the counter. The scrip crashed to Rs 214.50 during intra-day, its new 52-week low. Marketmen said that a leading FII had pressed for sales at the counter in a bid to meet redemption demands.

The Ingersoll Rand scrip gained Rs 14 on renewed buying support with 3600 shares changing hands. DCL Polyester saw trading in 4.16 lakh shares. The scrip closed at Rs 2, down Rs 0.20 paise. Kirloskar Oil Engines witnessed a negotiated deal of 2 lakh shares at Rs 27 levels. The scrip closed at Rs 28.25.

The Abhinav Home scrip saw trading in 50000 shares at a rate of Rs 1.70 per share. Raasi Cements continued to witnessed hectic trading activity for the second consecutive day. The scrip saw trading volumes of over 23,000 shares with the price edging up by Rs 5 to Rs 136.20.