The Hindu Business Line : Sensex ends weak, Nifty flat on dull day

THE bellwether BSE Sensex closed the last trading day of the week on a negative note. The 30-stock index was down 26.37 points (0.46 per cent). It opened at 5733.35 points, about 20 points higher than Thursday's closing. It remained volatile through out the day, as it reached the day's high of 5758.11 points and a low of 5673.75 points, before closing at 5686.73 points.

Other indices that registered a drop on the Bombay Stock Exchange include the BSE TECk, BSE-100 and the Bankex. However, the BSE-200, BSE-500 and the BSE-PSU closed the day on a positive note.

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On the National Stock Exchange, the S&P CNX Nifty, however, edged up marginally. The 50-stock index rose 0.01 per cent to 1795 points. The trading volumes remained subdued on the NSE at 20.7 crore shares, against 23.7 crore shares recorded on Thursday.

Of the total 2,239 stocks that were traded on the BSE, 805 appreciated in value, 1,349 declined and the rest remained unchanged.

Among the Sensex constituents, 12 stocks advanced and the rest declined.

The index heavyweights were a mixed bag on Friday. The stocks of Infosys Technologies and ICICI Bank declined while Reliance Industries and ITC managed to register gains.

Among the Sensex constituents, stocks that witnessed sharp drop include Bajaj Auto (2.4 per cent), Hero Honda (2.1 per cent) and HDFC (3.7 per cent).

Stocks that registered sharp fall include Indiabulls, Mastek, Hindustan Construction, Tasc Pharma and India Cements.

Select software stocks buoyant: After witnessing a 70-per cent drop on Thursday, the stock of SSI rose 8.9 per cent to Rs 53.05 on Friday. Stocks of several mid-size software companies also registered strong buying interest. The stocks of Aftek Infosys (6.1 per cent), Aztec Software (6.1 per cent), Ramco Systems (2.5 per cent) and Hexaware Technologies (1.9 per cent) were among the gainers.

Stock and news: Ranbaxy Labs reported that its net profit for the quarter ending September 2004 fell 31 per cent to Rs 141.3 crore, over the corresponding period of the previous year. The stock fell by one per cent to Rs 1,073.45.

Glenmark Pharma Switzerland, a wholly-owned subsidiary of Glenmark Pharmaceuticals India has received an order woth $10 million from Forest Laboratories, Ireland. This constitutes the upfront payment under the recently concluded collaboration agreement between the two companies. However, the Glenmark Pharma stock remained flat at Rs 308.3.

Wipro reported that its net profit rose 79 per cent to Rs 411.70 crore during the second quarter ended September. The stock, however, fell 1.6 per cent to Rs 649.65.

The net profit of Tata Elxsi also rose 57 per cent to Rs 6.1 crore in the recently concluded quarter. The stock, however, fell 4.2 per cent to Rs 159.6.

Jain Irrigation Systems announced that it is considering various options, which include a fresh issue of equity shares, to raise funds. The stock fell 2.7 per cent to Rs 98.45.

Sona Koyo Steering Systems is to acquire 21 per cent stake in Fuji Autotech France, at an estimated cost of euro 5 million. The stock fell 3.3 per cent to Rs 52.7.

Four Soft said that it has acquired CargoMate, a Netherlands-based transportation and logistics solutions provider, for $1.9 million. The stock fell 3.9 per cent to Rs 37.75.

SRF plans for capital expenditure at an estimated cost of about Rs 302 crore. The stock rose by 1.3 per cent to Rs 53.2.

Stocks that registered large trading volumes include SAIL, Tata Steel, Tata Teleservices, Maruti Udyog, Indiabulls, Li-Taka Pharma and GV Films.

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