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Journalism of Courage
MUMBAI, SEPT 25: After a firm spell, pivotals reacted on the Bombay Stock Exchange BSE on Friday mainly due to profit-taking and selling pressure by domestic financial institutions. The closing rates showed small changes. The volume of business remained brisk and the undertone appeared steady.
Sensex BSE sensitive index dropped from the day8217;s high of 3266.71 to 3215.77 before finishing at 3223.57 with a minor loss of 1.83 points compared to the previous level of 3223.57. The sentiment was better during the opening session on good buying support from foreign funds. The Finance Minister8217;s statement that buy-back of shares by companies would be introduced soon also boosted the sentiment.
The market remained volatile as there was activity in counters with FIIs buying shares of Pentafour, Satyam, Larsen, MTNL, BHEL and Bajaj Auto. However, the sentiment turned subdued mainly on selling by domestic institutions and profit-taking by local operators. The weak overseas markets also affected the overallsentiment.
On the National Stock Exchange NSE, pivotals maintained high volumes in a volatile trading session. The market opened steady and the prices touched a high note during the intra-day trading session but lost ground during the fag end due to sudden selling by the domestic investors who liquidated their positions at the end of the trading fortnight today.
The Samp;P CNX Nifty opened slightly higher at 935.30 from its previous close of 934.80. It touched a day8217;s high of 945.25 and a low of 933 before closing at 934.95, recording a gain of 0.15 point. The total traded value was Rs 1974.87 crore.
