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Journalism of Courage
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This is an archive article published on August 7, 1999
Sensex closes lower
MUMBAI, AUG 6: Pivotals showed a mixed trend on the Bombay Stock Exchange BSE today amidst alternative bouts of buying and selling. Cem...
MUMBAI, AUG 6: Pivotals showed a mixed trend on the Bombay Stock Exchange BSE today amidst alternative bouts of buying and selling. Cement shares were once again in the forefront scoring impressive gains following reports of bright prospects for the industry. Sensex, however, closed below the 4600 mark, losing about 26 points, due to squaring up of positions in key scrips by market players in view of end of the current weekly account.
Sensex opened at 4616.03 but dropped below the 4600 mark to the inter-day low of 4570.65, before closing at 4575.30, showing a net loss of 25.89 points as against the previous close of 4601.19. The BSE-100 index lost by 7.88 points to 2010.32 from the previous close of 2018.20.
Brokers said cement and select infotech stocks staged a smart rally. ACC, Gujarat Ambuja Cement and Grasim posted handsome gains on good buying support. Pivotals like ITC and Reliance declined on profit-taking. Led by Madras Cement, 11 cyclical stocks hit the upper price band after exhausting thedaily limit. Out of 148 traded specified shares, 82 declined while 61 advanced and five closed unchanged.
Satyam Computer clocked the highest turnover of Rs 310.51 crore of the total volume of business of Rs 2345.82 crore. Satyam spurted by Rs 33 to Rs 1873, Pentafour Software by Rs 17.50 to Rs 1352.70, Dig Equip by Rs 20.10 to Rs 709.10, ACC by Rs 13.10 to Rs 231 and TELCO by Rs 4.70 to Rs 258. However, Ranbaxy dipped by Rs 13 to Rs 998, Hindustan Lever by Rs 22 to Rs 2719, ITC by Rs 10.90 to Rs 982, Reliance by Rs 3.15 to Rs 175.20 and SBI by Rs 2 to Rs 237.50.
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