Financial Daily from THE HINDU group of publications
Wednesday, Sep 28, 2005
Financial Daily from THE HINDU group of publications Wednesday, Sep 28, 2005 |
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Stock Markets Markets - Stock Markets Sensex ends at new high of 8,525; volatility continues Our Bureau
Mumbai , Sept. 27 STOCK prices continued to surge for the second day in a row with BSE Sensex closing at all-time high in a highly volatile trading session. The BSE Sensex opened firm in the morning and touched the day's high of 8,585.76 and closed the day at 8,525.52, up 46 points (0.55 per cent). On the NSE, the S&P CNX Nifty closed with a gain of 15 points (0.68 per cent) at 2,575. Despite the rise in the main indices, the advance-decline ratio was negative indicating the rise in stock prices was not broad-based. The high volatility in today's trading was primarily due to the expiry of derivatives contract on Thursday, traders said. Traders said the markets are at higher levels and turned volatile as the expiry of September derivatives contracts draws closer. They said short covering may also influence the market's direction. The main stocks that moved the indices included Hindustan Lever and Tata Motors. Brokers said overall sentiment is still optimistic but the volatility in the stock prices is likely to continue. Institutional buyers were active in select counters. On Monday, FIIs were net buyers of Rs 199.3 crore in equity and mutual funds bought equity worth Rs 133.4 crore. BSE suspends trading in 14 scrips The BSE has decided to suspend trading until further notice in 14 securities from September 30 due to non-compliance of listing agreement. The companies are: Belapur Industries, BF Utilities, Gujarat Toolroom, Hingir Rampur Coal Company, Howard Hotels, Inlac Granston, Irplast Adhesives India, Luminaire Technologies, Premier Capital Services, Proto Infosys, Riverdale Foods, Shri Lakhavi Infotech, Suvarna Cements and Vision Corporation.
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