Subdued Trend

All round selling pressure initiated a subdued trend on the Calcutta stock exchange yesterday and pivotals led by ITC recorded fresh losses.

Discouraged by lower than expected ITC profit, the results of which were announced in the late hours on Tuesday, bull operators started unloading their holdings and in absence of any takers for the offerings, values plunged sharply.

While ITC declined to close at Rs 416.70 against the previous closing of Rs 437.60, ACC came down by Rs 20 to close at Rs 1142. SBI surrendered Rs 7 and closed at Rs 305.40, whereas in Tisco and L&T losses were insignificant due to less selling advices.

 

Reflecting the trend, CSE new index came down by one point to close at 106.15 points after touching a low of 106.13 points mid-day during the session. Among other counters, Hindustan Motor remained stable at Rs 13.80, CESC came down by 40 paise, Jaiprakash Industries lost 40 paise while HLL closed with a gain of Rs 3 at Rs 1065. In the other securities group, Bank of Rajasthan came down by Rs 5.60 in line with the trend in the specified group.