Scrips Remain Passive

The 51-scrip Calcutta Stock Exchange Index moved in a narrow range yesterday losing 4.14 points before closing at 426.13 points.

Equities failed to hold Tuesdays gains as fresh offerings emerged at higher levels, said a leading broker. Business volumes were limited and share value of index-based pivotals fell marginally.

Market insiders say negligible purchase orders from FIIs and FI and absence of positive developments on the capital market front contributed to stagnating sentiments.

Prices moved in a narrow range at either previous levels or marginally lower. ACC opened at Rs 1,890, saw a high of Rs 1,900 and the ended at Rs 1,845, declining by Rs 30 over previous days close at Rs 1,875. ITC also lost part of its earlier gains and declined to Rs 297.50 after touching a high of Rs 303.50. Reliance and Tisco hovered around previous levels at Rs 197.50 and Rs 173.50 respectively.