Financial Daily from THE HINDU group of publications
Saturday, Sep 24, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 24, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Some small-caps recover
Some of the small cap stocks, hit by the recent dip in sentiment, today bounced back on emergence of buying. According to market sources, both operators and long-term investors chose to purchase certain stocks at relatively lower levels. Out of the total 494 stocks of the BSE Small Cap Index active, 284 finished in the green and four closed flat, but 206 declined further. Among the top gainers were VisualSoft (13.33 per cent), Atul (12.75 per cent), GHCL (10.67 per cent) and Siyaram Silk (10.59 per cent). . The index itself moved up by 26.21 points to 5,579.25 points, but was still down by 706.03 points from 6,311.49, recorded a week ago.
Gains on overseas show HINDUSTAN Lever was up 3.06 per cent to close at Rs 169.95. According to market sources, recently the company has been making presentations to the investors in Europe and the US. On September 26, it is scheduled to hold such a meet in Mumbai. The quick return of attention to the counter by institutional investors may be traced to increase in visibility, the sources pointed out. A week ago, the stock was at Rs 177.55.
Profit taking caps gains RELIANCE Industry, which was on a recovery trail, finished marginally lower (0.89 per cent) at Rs 748.30 on profit taking by a section of market players. It touched a day's high at Rs 764. A week ago the stock traded at Rs 764.45. The Dalal Street expectation was that the company may soon start export of diesel from its Jamnagar refinery. This was helping the stock to bounce back, according to market sources.
Jayanta Mallick
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