Pivotals remain steady on BSE

MUMBAI, OCT 26: Pivotals generally showed a steady trend on the Bombay Stock Exchange BSE today in absence of speculative support. Resuming slightly better, share prices attracted profit-taking at the end mainly on lack of buying support from foreign funds and bull operators. The last day of trading cycle at the National Stock Exchange NSE also forced market players to square up their positions. Sensex BSE sensitive index opened at 4830.58 and moved between 4845.50 and 4794.73, before closing at 4814.34, showing a marginal fall of 1.67 points from the previous close of 4816.01. The BSE-100 index advanced by 1.97 points to 2278.94 from the previous close of 2276.97.

Said a broker, 8220;barring IT stocks and some cyclical shares, pivotals generally drifted downwards in lacklustre activity following sustained selling pressure from operators despite selective purchases from foreign funds.8221; Local operators covered their short positions in IT stocks on the back of sizeable purchases by FIIs. However, somepharma scrips bore the brunt of sustained selling with Burroughs Wellcome, E Merck, Glaxo, Sun Pharma and Hoechest Marrion showing substantial falls. Of the 150 traded specified shares, 81 registered sharp to moderate falls while 67 showed handsome gains and two remained unchanged. Satyam Computer clocked the highest turnover of Rs 285.23 crore of the total volume of business of Rs 2620.95 crore. Satyam Computer gained Rs 60.85 at Rs 1408, Infosys Tech Rs 360.20 at Rs 7650, NIIT Rs 168.85 at Rs 2279.85 and TISCO Rs 2.35 at Rs 170.25.

Meawnhile on NSE, equities declined further in lacklustre activity in the wake of sustained selling pressure from operators. The Samp;P CNX Nifty index resumed slightly higher at 1426.60 and moved between 1431.50 and 1410.95 before closing at 1414.35 as compared to 1426.20 yesterday, showing a loss of 11.85 points.