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Dip in infotech prices and surge of pivotals mark the week of uptrend

The Bombay Stock Exchange Sensex shot up by 72 points as pivotals gained smartly towards the end of the week on good buying support from speculators coupled with limited buying support from foreign institutional investors, during the week ended November 7.

Initially the market witnessed a dull trend and the Sensex saw a very narrow range movement but the speculative buying by bull operators, market circles FIIs boosted market sentiments on the bourses, dealers said.

Reflecting the uptrend, the-30 scrip BSE Sensex registered a net gain of 71.88 points to 2884.37 as against last week's close of 2812.49 points. The broad-based bse-100 index advanced by 22.44 points to 1283.22 points from the previous close of 1260.78 points. The former market leader Reliance Industres Limited was in the limelight alongwith other scrips like ACC, Telco, State Bank of India, Tisco, BHEL, ITC. The infotech shares like Infosys Tech, Satyam Computers and NIIT recorded losses on selling pressure and lack of buying interest, market sources said.

The BSE-200 and Dollex indices moved up by 11.95 and 10.25 points to 840.80 and 688.75 points from last week's close of 828.85 and 678.50 points respectively.

Total turnover on BSE declined sharply by Rs 24.57 billion in the four trading days during this week against last week's turnover of Rs 61.79 billion.

Both the BSE and the National Stock Exchange remained closed on November 4 on account of Guru Nanak Jayanti.

Among the gainers, ACC rose by Rs 27.50 to Rs 946.50, Bajaj Auto by Rs 14 to Rs 567.97, BHEL by Rs 6.10 to Rs 242.50, Glaxo Rs 38.35 to Rs 517.50, HLL by Rs 33 to Rs 1636, ICICI Rs 3.90 to Rs 44.30, ITC Rs 5.25 to Rs 705, L&T Rs 4.50 to Rs 149, M&M Rs 7.80 to Rs 154.90, MTNL Rs 3 to Rs 186, Reliance Rs 9.90 to Rs 119.60, Telco Rs 14 to Rs 126.90, Tisco Rs 5.70 to Rs 86.70.

Among the losers, Dr Reddy's was down by Re 1 to Rs 44.50, NIIT by Rs 3.25 to Rs 1266.50, Pentafour Software by Rs 58.50 to Rs 582, Satyam Computers by Rs 17.25 to Rs 575.75 and Zee Telefilms by Rs 15.50 to Rs 657.50.

The NSE also witnessed an uptrend during the week.

Mirroring the trend, the S&P CNX Nifty Index rose by 11.95 points to 840.80 points from the previous week's close of 828.85 points. The S&P CNX Defty Index moved up by 10.25 points to 688.75 points from the previous close of 678.50 points. The CNX Nifty Junior declined by 17 points to 1406.20 points as against last week's close of 1423.20 points. CNX-500 posted a gain of 3.80 points to 574.40 points from the previous close of 570.60 points. However, the CNX-Midcap Index eased by 6.33 points to 504.55 points from last week's close of 510.88 points.

Total turnover on the NSE also came down heavily by Rs 31.73 billion to Rs 45.82 billion from last week's turnover of Rs 75.55 billion.

UNI

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