Values remain steady today

MUMBAI, June 9: Pivotals generally moved in a narrow range on the Bombay Stock Exchange BSE today on alternative bouts of buying and sell...

MUMBAI, June 9: Pivotals generally moved in a narrow range on the Bombay Stock Exchange BSE today on alternative bouts of buying and selling. The new account started steady and select scrips improved slightly during the earlier part of the session.

Share prices, however, turned subdued thereafter mainly due to lack of buying support at higher level.

The BSE sensitive index opened slightly better at 3837.05, gradually moved up to a high of 3853.91 but it later slumped to a low of 3815.73. The sensex, however recovered partially to finish at 3835.35 with a minor loss of 1.09 points compared to the previous level of 3836.44. The BSE-100 eased by 0.47 point to 1644.76.

Brokers said trading commenced on a cautious note with investors making some fresh purchases in the index-based scrips which raised the sensex by 17.47 points to 3853.91 level. However, the absence of the FIIs and local institutions reversed the trend and speculators turned sellers and the index fell back to close with minor losses. Higher carry-forward charges fixed for the last settlement as against nine per cent in the previous settlement partially affected the activity.

The total turnover was Rs 536.97 crore. Reliance recorded a turnover of Rs 143.56 crore, followed by SBI Rs 90.57 crore, ITC Rs 88.52 crore, Telco Rs 33.52 crore and Tisco Rs 15.51 crore. BSES firmed up by Rs 5.25 at Rs 244.25 and HPCL Rs 6.25 at Rs 435.75 on speculative support. Reliance gained by Rs 3.75 to Rs 310.25 and SBI 25 P at Rs 313.75. Hindalco firmed up Rs 21.75 to Rs 951 Interested buying.

ITC declined by Rs 1.50 to Rs 484, Telco by Rs 5.75 to Rs 397.25 and Tisco by Rs 1.25 to Rs 170 on profit-taking. ACC dropped by Rs 62.50 to Rs 1060, ABB by Rs 17.00 to Rs 621 and Bajaj Auto by Rs 30.50 to Rs 861.50.In cash, Asian Hotels gained by Rs 16.75 to Rs 239.75, Intgeroll by Rs 25.50 to Rs 379.50, Madras Cement by Rs 145.50 to Rs 6715.50, Punjab Tractors by Rs 39.25 to Rs 569.75, Tata Infosys by Rs 62.75 to Rs 911 and Wartsila by Rs 29 to Rs 375.75 on investment support.

On the National Stock Exchange NSE, share prices declined following selling pressure. The NSE-50 index settled at 1074.65, showing a fall of 8.10. However, the Midcap opened finished at 1133.30, still showing a marginal gain of 0.95 points. The total turnover was Rs 1,304.07 crore.