The Telegraph
Since 1st March, 1999
Email This Page
Stocks lie low on war fears

Mumbai, March 10: The bearish trend continued at the stock markets today as the crisis deepens in West Asia. The 30-share BSE sensitive index dipped by yet another 27.18 points to close at 3125.88, its lowest since November 21 last year.

This is the sixth consecutive day where equities finished in the negative territory. The index opened steady at 3152.90 and touched a high of 3162.27. However, renewed selling pushed it to a low of 3115.32 before closing at 3125.88 as against last Friday’s close of 3153.06, a drop of 0.86 per cent.

Analysts feel this trend is likely to continue over the next few days as the equity market is expected to remain under selling pressure. Foreign institutional investors have pressed sales for around $ 10.6 million this month.

Further, the Maharashtra government’s move to hike the stamp duty on non-delivery transactions only seems to amplify the dull mood.

However, Infosys and Hughes Software bucked the negative trend and ended with smart gains. The volume of business was relatively low at Rs 963.22 crore from Rs 1,002.19 crore last Friday. Digital was the most active counter with the highest turnover of Rs 136.66 crore followed by Infosys (Rs 122.78 crore), Satyam Computers (Rs 95.92 crore), Mastek (Rs 95.90 crore) and Reliance Industries (Rs 64.68 crore).

Email This Page