Improved sentiment in Lyons Range

By A Special Correspondent

KOLKATA, SEPT. 30. Share prices on the Calcutta Stock Exchange, after suffering a free fall particularly in the technology group, staged a smart rally last week led by old economy counters on sustained buying. Reliance Industries, which had gone through a major shake out on September 21, were in the forefront of the uptrend and the list closed with scores of other gainers. Although there was some profit taking at higher levels, majority in the list closed the week in the plus territory.Mirroring the advance in share values especially of those having higher weightage in the index, the indicators also recovered smartly. The CSE's 40-share index rallied to close at 1497.78 against 1400.90. The overall mood at close was clearly positive, operators said, adding, however, one could not assume that the market had moved into the bullish orbit. No doubt there was bull domination in the later part of the week with Friday's trading witnessing a brighter look because of sustained buying in some of the leading scrips.

Cement shares evoked fresh support during the week under review with ACC providing the lead. This counter met with repeated bouts of buying. Other cement shares such as Gujarat Ambuja Cement and Larsen and Toubro as well as shares of companies which have major cement divisions, also attracted buyers' attention.

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