Fast track
Select stocks lose steam
THE markets continue to languish in a narrow band in terms of the narrow indices such as the S&P CNX Nifty and BSE Sensitive Index. But at the broad level, a sizeable number of stocks have shown firm trends suggesting some action outside of the constitue
nts of the benchmark indices. For instance, in the past week while the broad-based BL-250 was in positive territory, the Nifty and the Sensex went the other way.
Impact
Gesco Corpn: A new twist
THE acquisition of the stake of International Finance Corporation (IFC) by the Mahindra-Sheth combine may ensure that the stock continues to be in the limelight.
HDFC Bank: In solitary splendour
THE views expressed by the top management of the HDFC against a merger of HDFC Bank and HDFC may be viewed positively though the position is not exactly a new one.
Stocks
Stocks respond to carry forward rolling settlement move
STOCK prices stayed firm on Monday, the opening day of a fresh settlement at the Bombay Stock Exchange. The Sensex gained a little more than half a percentage point to close at 3,926.52. The NSE index remained a little subdued in contrast gaining only by
.12 per cent. The broader indices - S& P CNX 500 and BL 250 ended marginally in the negative territory.
Gesco price steady
THE stock price of Gesco Corporation continued to remain firm at the bourses. Although, the stock price at Rs 46.15 rules higher than the revised offer price of Rs 44, price related speculation appeared to have cooled down in the counter even as the stak
es in the takeover battle appeared to have intensified.
Dalal Street
MUMBAI: STOCKS surged in rather dull trading on Monday and relatively low volumes. The share prices rose as sentiment improved following positive statements from the Government with regard to disinvestment programme. Monday's rally in cement stocks and t
echnology counters followed substantial short-covering and fresh speculative purchases pushing major indices up in an otherwise lacklustre trade.
Technical Analysis
Marginal gains
THE downtrend in both the indices continued for the third calendar day on Monday though the bulls dominated the day. The market sentiment turned strongly bullish with many scrips triggering their buy levels.
