Stagnant Trend Continues

Trading on the Calcutta stock exchange remained stagnant yesterday and buyers remaining cautious. Brokers said though the market showed no material alterations and the business volume remained restricted, share value of index-based pivotals firmed up marginally.

Thus the 51-scrip CSE Index settled marginally higher at 430.27 points, up 1.44 points from Monday's close but lower than Friday's at 432.07 points.

Institutional buyers including FIIs are believed to have decided to abstain from buying and are keeping a close watch on the market and political developments. Selective institutional purchases too, did not evoke any inspiration.

Equities either hovered around previous day's levels or settled marginally higher and made up part of their previous week's losses when the share value of index-based scrips had taken a severe beating.