THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Friday, August 11, 2000

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Markets

Fast track
Top Cassettes: Happy tunes
stocks from the technology and communication sectors, select ones from other industries have been quite active. It has essentially been a reaction to specific developments concerning the respective companies. Three such stocks that have been active in th e last fortnight are Top Cassettes, IP Rings and Bajaj Auto.

Impact
Cybertech Systems: Uncertainty ahead
THE stock of Cybertech Systems & Software may show flat trends ahead of the consideration of the merger of a subsidiary company with itself and a buyback programme.

TVS Suzuki: Marginal brands shelved
TVS Suzuki's decision to discontinue the production of Shogun and Shaolin range of motorcycles is unlikely to have any major influence on the company's share price.

Gujarat Ambuja Cements: Flat trends in store
The rather insipid performance of Gujarat Ambuja Cements could lead to flat trends in the short term.

Stocks
GE Shipping steams ahead; Sterlite dives
RALLY in technology shares came off during the day reportedly due to profit-booking. Along with technology stocks, non-technology stocks in the index also recorded declines. The BSE Sensex declined by 63.8 points or 1.48 per cent to close at 4,253.23. Th e S&P CNX Nifty shed 1.26 per cent or 16.95 points to end at 1,328. Broader indices - BL-250 and S&P CNX 500 - being more technology-heavy, declined by a higher 1.6 and 1.76 per cent.

Technical Analysis
Bears dominate intra-day
THE uptrend triggered on Wednesday continued on Thursday with signs of weakness. The sentiment of the market continued to be bullish. The uptrends in both the indices are likely to be neutralised if a bear move prevails on Friday. A downtrend is likely t o be triggered in case of a mildly strong bear move. In case of a bull move, the sentiment is likely to remain the same. In case of a bear move, the sentiment is likely to become mildly bearish.


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