The Hindu : Business : Market ends flat

Online edition of India's National Newspaper
Wednesday, Jun 23, 2004

Business

Business

Market ends flat

MUMBAI, JUNE 22. The market ended with a marginal fall of three points with select blue chip counters showing moderate losses while some others scoring handsome gains in an extremely low volume on the Bombay Stock Exchange today on alternate bouts of buying and selling.

The BSE benchmark 30-share index opened moderately lower at 4732.95 and was later trapped in a narrow range of 4767.35 and 4717.78 before ending at 4735.86 against yesterday's close of 4738.62, a net fall of 2.76 points.

Market players including institutional investors seemed to be extremely cautious and preferred to maintain low profile in the light of forthcoming Union Budget to be presented to Parliament on July 8.

Retail investors and operators, who reportedly have fairly high holdings in the Futures and Options segment, were engaged in squaring up of positions ahead of the expire of June contract on Thursday.

Investors were also keen to know the Congress-led UPA Government's agenda on reforms and economic policies, even as the direction of disinvestment and privatisation had altered with the change of government at the Centre, brokers said. The Confederation of Indian Industry has sought privatisation of all assets in the public sector.

Key stocks such as Tata Motors, RIL, Zee Telefilms, ONGC, MUL, ICICI Bank, HPCL, Hero Honda, Wipro, HDFC Bank and Cipla showed marked losses on selling pressure.

— PTI

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