Fast track
A vote for fundamentally strong
THE BSE Sensex continues to be confined to a narrow range. Technically, there is still a risk of the Sensex declining to the previous low at around the 3490 level. The recent price action in index heavy-weights such as Infosys Technologies, Hindustan Lev er and ITC also support the possibility of another decline in the Sensex.

Impact
A P Paper: Weakness may continue
THE suspension of operations by the Andhra Pradesh Paper Mills may lead to continued price weakness in the stock.

Ibuprofen: Some pain for producers
THE cut in the price of the widely-used bulk drug, Ibuprofen, may have an adverse influence on the profitability of some pharmaceutical companies.

SPIC: Flat trends
THE rollover of its floating rate note (FRN) obligation _ on which it had defaulted earlier _ may not have positive influence on the SPIC stock.

Stocks
Nasdaq's overnight rally helps tech shares
AFTER a prolonged spell of downtrend technology shares made it to the list of gainers on Thursday. The overnight stock price trend at Nasdaq and the statement of Mr Colin Powell, the US Secretary of State designate, that he would work to remove the remai ning sanctions imposed on India, helped to brighten the sentiment during the day.

New economy scrips shine
KOLKATA:THE new economy shares, after a week-long decline, bounced back on local settlement pressure on Thursday.

Technical Analysis
Restricted movement
TRADING on Thursday witnessed mild domination by the bulls. Intra-day movement in both the indices was range-bound. The trend of the market continued to be in the downtrend for the eighth calendar day. The sentiment turned slightly in favour of the bulls . The prevailing downtrend in the indices is not supported by the sentiment.

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