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This is an archive article published on February 4, 1998

Sensex closes steady

MUMBAI, February 3: Pivotals remained steady on the Bombay Stock Exchange (BSE) today in the absence of speculative support and limited buyi...

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MUMBAI, February 3: Pivotals remained steady on the Bombay Stock Exchange (BSE) today in the absence of speculative support and limited buying by the financial institutions. Resuming steady, share prices moved narrowly on alternative bouts of buying and selling. Most of the business deals were of squaring up in nature as it was the last session for the current settlement on the National Stock Exchange (NSE). The closing rates showed small changes. The volume of business recovered.

The BSE sensitive index declined from the session’s high of 3363.33 to touch day’s low of 3326.17 during the mid-session before finishing at 3354.88, showing minor gain of 0.08 point over the previous close of 3354.80.

The BSE-100 declined slightly by 3.69 points to 1451.14 from the previous level of 1454.83. Automotive shares bore the brunt of selling pressure with following discouraging performance in the current year. The total volume recovered at Rs 927.81 crore. ITC was the leader with a turnover of Rs 295.28 crore,followed by Tata Tea Rs 105.99 crore, Reliance Rs 84.38 crore, Castrol Rs 71.87 crore and SBI Rs 65.87 crore.

On the NSE, in a lack lustre trading, share prices declined moderately on the last day of the current settlement as the operators were squaring up their outstanding positions. The NSE-50 index, after a better start at 977.05 ended up 975.25, showing a moderate fall of 1.35. The dollar NSE-50 (Defty) index opened at 869.40 and closed at 871.85, revealing a small gain of 1.75. The Midcap index also started higher at 1114.20 and closed 1100.60, disclosing a notable fall of 12.30. The total turnover was Rs 1,265.54 crore.

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