MUMBAI, JAN 27: Pivotals ended flat in lacklustre trade on the Bombay Stock Exchange (BSE) with activity restricted to specific stocks. Opening on a firm note, equities lost their initial gains towards the end on profit-taking. Select infotech shares posted handsome gains on good buying support. Sensex (BSE sensitive index) opened higher at 5424.14 and moved between 5457.30 and 5362.25 before closing at 5369.10, showing a marginal gain of 1.31 points as against the previous close of 5367.79. The BSE-100 index advanced smartly by 34.93 at 2910.45 from the previous close of 2875.52.Brokers said several scrips like DSQ Software, Reliance, HFCL, Global Tele, HCL Technology, HDFC and Pfizer witnessed good activity on investment support. Buying continued in information technology shares with Infosys Technologies, Wipro, leading the charge, but non-index stocks continued to hog the limelight.Sterlite Industries also rebounded thanks to good second quarter results and a company announcement that it isappointing a consultant to study ways of restructuring its businesses. Zee Telefilms ended Rs 3.50 up at Rs 1,216 clocking the second highest volume at around three million shares. Infosys closed Rs 88 higher at Rs 7,308, while Wipro closed Rs 281.70 up at Rs 3,803.10.Among index stocks, like Reliance Industries, Hindustan Lever and ITC Ltd fared well amidst general weakness. Reliance closed at Rs 333, up Rs 9.45 on volumes of around 10 million shares touching in the process a new high of Rs 335.10.Dealers said sharp falls in some key index stocks dampened sentiment. Major losers were TELCO as disappointment over its poor third quarter performance refused to fade away. The Tata major's shares were down Rs 15.6 at Rs 180, while profit-booking saw NIIT Ltd fall off its perch by Rs 68.4 at Rs 2,735. Ranbaxy Laboratories also fell Rs 20.4.Reuters adds: Asian share prices are set to rise 25 per cent in 2000, outperforming most other global markets despite the risk of higher US interest rates and acorrection on Wall Street, a top Jardine Fleming analyst said. "Although Asian markets will fall short of 1999's impressive 53 per cent rise in 2000. (we) expect Asian markets to rise at least 25 per cent this year," Dan Fineman, the investment house's Hong Kong-based regional strategist, said in a report. It said Asian shares would be buoyed by strong earnings growth, stable low interest rates, ample liquidity, strong currencies and falling risk premiums. Taiwan, Malaysia, India, China and Hong Kong are the top picks in the region, in that order.
