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Reliance leads a moderate recovery

Led by Reliance, select share prices staged a moderate recovery at the Bombay Stock Exchange on speculative buying support from local operators, pushing the Sensex up by about 18 points today.

Being the last day at the National Stock Exchange, most of the players were busy in squaring up their positions and the rally was restricted in few scrips like Reliance, Mastek and Dr Reddy, dealers said.

Mirroring the trend, the 30-share BSE Sensex opened at 4701.19 points, touched the day's high of 4738.81 points, a low of 4656.44 points before closing at 4733.42 as against the previous close of 4715.67 points.

The broad-based BSE-100 index, however, declined by 7.02 points to 2212.39 points as against the previous close of 2219.41 points.

The Reliance scrip quoted higher at Rs 232, higher by Rs 17 from the previous close and also witnessed an huge volume of 1.6 crore, dealers said.

Closing prices at the NSE and BSE saw a wide gap on account of last day of weekly settlement at the NSE, the dealers pointed out and said that Infosys Technology scrip which closed at Rs 7000 at the NSE ended at 7105 at the BSE.

The BSE-200 and Dollex indices closed marginally lower by 1.45 and 0.55 points to 509.42 and 194.66 points as against the previous close of 510.87 and 195.21 points respectively.

The FMCG shares remained steady while barring Dr Reddy, pharma also held steady, dealers said. The Zee Telefilm scrip which was in the limelight for last couple of days closed lower after hitting a high of 5,200, they said.

Expressing concern over the increased outstanding position at Rs 2,900 crore at the BSE, dealers said the market was likely to give a correction in next couple of days as the players may liquidate their position in key scrips.

UNI

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