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Journalism of Courage
MUMBAI, NOV 5: Pivotals turned subdued on the Bombay Stock Exchange BSE today mainly in the absence of speculative support coupled with selling pressure by the Foreign Institutional Investors FIIs. After a steady spell, share prices declined during the mid-session but a few scrips recovered partially at the end. The volume of business remained below normal.
The BSE sensitive index declined from the sessions8217; best level of 3807.45 to 3759.16 but later recovered partially to close at 3778.23, with a net loss of 27.72 points over the previous close of 3805.95 points. The BSE-100 index drifted lower by 9.63 points to 1634.34 against the previous close of 1644.07 points. According to brokers, the sentiment was affected mainly due to discouraging corporate results and lack of speculative support. The FIIs today sold shares of ITC and considerable number of shares at the select counters like MTNL, BHEL. Marketmen said that the decision of the postponement of GDR issue by the Gas Authority of India Ltd Gail also has affected the market sentiments. Total turnover dropped to Rs 594.79 crore from the previous level of Rs 859.80 crore. ITC topped the list of turnover by registering highest turnover of Rs 241.54 crore, followed by Tata Tea Rs 59.73 crore, Reliance Rs 57.75 crore and Larsen Rs 22.73 crore.
On the National Stock Exchange NSE, share prices turned easy on the first day of the current settlement on emergence of selling pressure. The NSE-50 index opened firm at 1091.20 and rose further to 1096.05. Later, it declined to 1081.90 and closed at 1085.00, showing a fall of 5.20 over the previous close of 1090.20. Midcap index, however opened weak at 1234.45 and declined further to 1226.80,before ending at 1231.60,revealing a loss of 6.70 from the last close of 1238.30.The total turnover declined steeply to Rs 1377.19 crore from yesterday8217;s level Rs 2082.10 crore.
