The Hindu : Business : Lacklustre deals on BSE

Online edition of India's National Newspaper
Saturday, May 14, 2005

Business

Business

Lacklustre deals on BSE

MUMBAI: In lacklustre activity, the Sensex on Friday reacted moderately downwards by 5.28 points to close at 6451.54 on the Bombay Stock Exchange on stray profit taking by operators on the back of renewed selling by foreign institutional investors.

Taking a cue from Wall Street, the market opened weak and remained in the negative territory most of the day. But lower level buying by local mutual funds helped index prune early losses.

The Dow Jones Industrial Average and the Nasdaq Composite Index dipped by 110.77 points and 7.67 points respectively yesterday. In the Southeast Asian markets Hang Seng dipped by 101.47 points, Nikkei by 28.83 points and Singapore ST by 9.52 points. Operators remained cautious and refrained from doing any big deals in the absence of any encouraging factor on the last day of the week, a broker said. The BSE-30 share sensitive index resumed lower at 6447.72 against yesterday's close of 6456.82 and fell further to a low of 6418.78. Later, it recovered marginally on selective buying and after touching a high of 6463.14, ended at 6451.54. Meanwhile, world crude oil prices fell sharply to $48.29 a barrel in after-hours trading on the New York Mercantile Exchange, but failed to impact positively on the market sentiment, a dealer said.

PTI

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