The Hindu : Downtrend halted on BSE

Online edition of India's National Newspaper
Saturday, Nov 22, 2003

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Business

Downtrend halted on BSE

MUMBAI NOV. 21. Arresting the three-day falling trend, share prices recovered smartly on the Stock Exchange, Mumbai, here today following emergence of heavy all round buying support and the Sensex zoomed by 67.31 points to close at 4838.54.

In early trading, prices fell sharply in line with weak advices from New York and Europe where investors indulged in heavy nervous selling after Thursday's bombings in Istanbul in Turkey, which killed around 15 people, brokers said.

The BSE-30 index started the day on a weak note at 4770.75 and after falling further to 4736.70, bounced back to 4851.67, before closing at 4838.54, showing a sharp rally of 1.41 per cent over the previous close of 4771.23. The active BSE-100 index also firmed up by 28.55 points to 2483.48.

The major index-based gainers were Reliance, BSES, BHEL, Grasim, HDFC Bank, ICICI Bank, ITC, Infosys Technologies, Wipro, Tata Motors and Tisco.

Other firm spots were ACC, Bajaj Auto, Larsen & Toubro, ONGC, MTNL, Tata Power, Satyam Computer and Zee Tele. However, Cipla, Hero Honda and Ranbaxy met with increased selling pressure and closed weak. In the specified group, 104 scrips closed in the positive territory, while 88 remained depressed.

The BSE-200 improved further by 6.59 points to 616.60.

The Dollex-200 recovered to 223.95 from 222.18. The BSE-500 firmed up by 17.97 points to 1897.99 and the Dollex-30 to 866.59 from 856.96.

PTI

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