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This is an archive article published on April 17, 1999

Pune Beat

Capital markets look up, PSE reverses trendWith Indian National Lok Dal leader Om Prakash Chauthala finally making up his mind and extend...

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Capital markets look up, PSE reverses trend
With Indian National Lok Dal leader Om Prakash Chauthala finally making up his mind and extending support to the beleaguered Bharatiya Janata Party BJP-led government at the Centre, the capital markets across the country including Pune recorded an eight per cent jump today with the increased hopes of a stable government at the centre.

AIADMK chief Jayalalitha8217;s decision to withdraw support to the BJP had sent the capital stock markets reeling for the past week. The Pune Stock Exchange PSE witnessed a reversal of trend today as all shares reached the upper end of the trading limits.

Circuit breakers were applied to all shares at around 1.15 p.m as a result of which the total turnover remained at Rs 8.28 crore. The Bombay Stock Exchange BSE sensitive index shot up by 125 points. PSE, BSE and NSE will remain open on April 17 for a special trading session.

The maximum turnover was witnessed in the trading of Reliance shares which opened at Rs. 117.05 and closed at Rs. 126.05 recording a deviation of 7.68 per cent at the end of the session.

Over 191,900 shares were traded recording a turnover of Rs. 2.36 crore. PSE president Mohan Gujarathi felt that the markets would certainly improve because of the possibility of the BJP surviving at the Centre. Speculators went on a buying spree at the trading session today. He hoped the markets would recoup their losses.

Tisco opened at Rs. 86.90 and closed at 90.40 recording an increase while the SBI Equity opened at Rs.159.60 and closed at Rs. 171.70 recording a deviation of 7.58 per cent.

KPIT Systems Ltd opened at Rs. 261.75 and closed at Rs. 266.40 recording a deviation of 1.77 per cent.

 

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