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This is an archive article published on August 13, 1999

Stocks remain subdued

MUMBAI, AUGUST 12: After a better spell, pivotals on the Bombay Stock Exchange BSE declined due to late selling pressure from Calcutta ...

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MUMBAI, AUGUST 12: After a better spell, pivotals on the Bombay Stock Exchange BSE declined due to late selling pressure from Calcutta operators amidst fears of high badla charges. However, select software scrips moved up on fresh buying by foreign funds coupled with short covering.

The BSE sensitive index Sensex opened firm at 4583.68 and later moved in a range of 4592.78 and 4543.64 before closing at 4543.64 with a small loss of 9.99 points as compared to yesterday8217;s close of 4553.63. The BSE-100 index eased by 1.72 points to 2010.99 from the previous close of 2012.71.

Brokers said the sentiment was better till the mid-session with good buying support from operators on the back of fresh purchases from FIIs. However, Calcutta operators who had witnessed high badla successively for the last two settlements, pressed heavy sales towards the end to wind up their positions fearing another high badla at the turn of settlement.

Some cyclicals as well as select pharma and software scrips attracted freshsupport from institutional investors. 8220;The market is still bullish in spite of border tension after shooting down of Pakistani aircraft by Indian air force in Gujarat on Tuesday. Major players, however, preferred to stay away from active buying,8221; said a broker.

Of the 149 specified shares, 79 registered falls while 64 scored handsome to moderate gains and six held steady. Satyam Computer remained the most active scrip with a turnover of Rs 380.20 crore of the total volume of business of Rs 1963.82 crore. Satyam flared up by Rs 101.80 to Rs 1894.90. Ranbaxy shot up by Rs 33 to Rs 1028, SBI by Rs 8.10 to Rs 240.60 and Infosys Tech by Rs 149 to Rs 5390. However, Hindustan Lever tumbled by Rs 51.20 to Rs 2630 and Pentafour Software by Rs 31 to Rs 1223.

 

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