Second-line stocks evoke interest

MUMBAI, JULY 27. Second-line stocks were in the limelight, scoring widespread gains in dull activity on the Bombay Stock Exchange today on sizable buying support from foreign institutional investors.

However, key index-based counters such as BHEL, Grasim, Hindustan Lever, ITC, Infosys Technologies, Hindalco and Telco recorded sharp to moderate losses due to sustained selling by domestic financial institutions.

Reflecting fresh slide in the heavyweights, the BSE sensitive index that opened steady at 3260.04 and later moved in a narrow range of 3278.85 and 3241.66, ended marginally down by 7.50 points at 3251.53 against yesterday's close of 3259.03. The BSE- 100 index eased to 1528.21 from 1529.14. The Sensex derived strength from noticeable gains in a few old economy counters such as Reliance Industries, HPCL, L&T, RPL and SBI.

The FIIs were reportedly good buyers in SSI, Global Telesystems, Satyam Computer, NIIT, Mirc Electronics, Sterlite Optical and few others. Market sources attributed fresh FII interest to the moderate upsurge in the Nasdaq composite index yesterday night.

BHEl fell sharply by over 11 per cent bearing the brunt of selling pressure triggered by announcement of dismal performance in the first quarter.In the specified group, 114 including 14 index-based counters registered gains while 53 others finished lower.

The BSE-200 and the Dollex were quoted up at 335.79 and 118.54 against 335.57 and 118.47 respectively. The BSE-500 also improved to 985.08 from 983.87. The Dollex-30 index, however, moved down by 1.31 points to 566.05 from 567.36.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Yamaha launches 'Crux R'
Next     : Tata Teleservices' investment plans