MUMBAI, February 18: Stocks moved widely on the Bombay Stock Exchange (BSE) amidst alternative bouts of buying and selling to finish slightly higher. Scrips rallied during the mid-session pushing the Sensex above the psychological mark of 3400. However, as a result of profit-taking, share prices reacted at the end. Reliance spurted by Rs 9.70 on buying support.Sensex (BSE sensitive index) started higher at 3355.32 and touched the day's high of 3406.28 but dropped to finish at 3351.05 with a small gain of 14.63 points against the previous level of 3336.42. The BSE-100 index ended at 1479.40, 1.81 points higher from the previous close of 1477.59.Brokers said the initial rally was mostly on account of good purchases by domestic institutions and support from foreign institutional investors (FIIs) at lower levels while speculators were busy covering up short positions a day ahead of the current settlement. However, pivotals surrendered most of the initial gains on heavy profit-taking at higherlevels.Despite the political uncertainty, speculators bought heavily expecting some sops in the ensuing budget but the heavy selling pressure by domestic funds as well as FIIs in some high priced pharmaceutical and software counters forced operators to press sales. In the specified group, NIIT, Reliance, Crisil, IPCL and Digital Equipment hit the upper price band after exhausting their daily limits.The total turnover was Rs 1546.41 crore, lower when compared to Rs 1929.42 crore on Wednesday. Pentafour Software clocked a turnover of Rs 306.87 crore, Satyam Computer Rs 124.87 crore, ITC Rs 87.38 crore, Tata Tea Rs 83.33 crore and Reliance Rs 81.33 crore. Pentafour Software dropped by Rs 23.25 to Rs 916.25, Satyam Computer by Rs 26 to Rs 963, ITC by Rs 11.75 to Rs 820.50 and Tata Tea by 75 P to Rs 452.On the National Stock Exchange (NSE) pivotals improved further moderately due to fresh buying by FIIs. The S&P CNX Nifty gained by 4.40 to end at 973.45 from the last close of 969.05. The market witnesseda total turnover of Rs 2619.88 crore. At the exchange, 612 securities advanced, 484 declined and 91 held steady. 152 securities had hit their price bands.
