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Journalism of Courage
MUMBAI, January 16: Led by bank scrips, sentiments on the Bombay Stock Exchange (BSE) recovered marginally on Friday mainly on short covering coupled with fresh buying support by the financial institutions. The BSE Sensex gained 17 points while the closing rates showed small but widespread gains.
The BSE Sensex moved between 3398.97 and 3351.21 points, before closing at 3382.32 points, as to the previous close of 3365.75 points. The BSE-100 index edged up by 6.15 points to 1477.70 from previous close of 1471.55. Brokers say the sentiment turned for better mainly on bear covering in view of Friday being the last session for the current settlement.
However, Foreign Institutional Investors (FII) reported have sold Mahindra, MTNL among others. The FIIs appear to have slowed down their sales following fresh rally in Hong Kong stocks, pushing the Hang Seng index by over 373 points in the morning trade.
ITC attracted brisk activity and maintained its top position with a turnover of Rs 208.26 crore of the total volume of business of Rs 875.03 crore.
On the NSE, equity prices improved moderately on short covering by operators for squaring up positions ahead of the settlement at the BSE. The NSE-50 index opened better at 990.05 and closed at 997.80, with a gain of 8.15 points. The NSE’s Midcap opened at 1140.15, rose to a high of 1150.30 and closed at 1146.90, with a gain of 7.25 points over the previous close of 1139.65. About 51 securities had hit their price bands today, the NSE press release said. The total turnover was Rs 1,293,43 crore.
