Steady trend on BSE

MUMBAI, SEPT 15: Pivotals generally showed a steady trend on the Bombay Stock Exchange BSE in the absence speculative support and lack ...

MUMBAI, SEPT 15: Pivotals generally showed a steady trend on the Bombay Stock Exchange BSE in the absence speculative support and lack of institutional buying. Operators generally remained cautious following selling pressure by the foreign funds.

The BSE Sensitive Index opened at 3154.01 points, touched the day8217;s high of 3176.42 and low of 3151.19 points before closing at 3162.18 points, thus showing a marginal loss of 5.04 points against the previous close of 3167.22 points. The BSE-100 index closed at 1397.57 with a small loss of 2.53 points compared to the previous level of 1400.10.

Reacting to the rumours on the merger of Zee Telefilms with Star TV, the Zee Telefilms scrip shot up to dizzying height of Rs 700 on Tuesday. The share price moved in the range of Rs 651 8211; Rs 700.75 on heavy intra-day jobbing by local punters. The stock registered phenomenal volumes of over 30 lakh shares on the BSE, while the free floating stock is not more than 15-20 lakhs.

Said a BSE broker: 8220;Apart from lack ofinstitutional support, the sentiment remained steady in view of squaring-up business at the end of ongoing settlement on the National Stock Exchange.8221; Domestic institutions, however, mostly absorbed the sales from operators in counters like Mamp;M, Reliance, SBI, Gujarat Ambuja Cement, Asian Hotels, Zee Telefims, and Tata Tea.

Satyam Computers remained the most active scrip with a turnover of Rs 250.38 crore of the total business volume of Rs 1,249.83 crore. Satyam edged up by Rs 7 to Rs 502.50. ITC, however, dropped by Rs 10.50 to Rs 685, Reliance by Rs 2.10 to Rs 121.50 and SBI by Rs 2.30 to Rs 204.40 on profit-taking.

On the NSE, equities rose marginally on increased buying from both FIs and FIIs on the last day of the current settlement. The FIIs bought shares worth Rs 21.09 crore and sold shares amounting to Rs 10.11 crore. The FIs and MFs picked up shares valued at Rs 18.76 crore while disposing off shares worth Rs 9.91 crore. The Samp;P CNX Nifty opened weak at 920.10 but recovered to close at 920.80 asagainst last close of 920.50. The total turnover rose to Rs 1,379.94 crore.