Fast track
Bata India: Weakening strides
THE stock market blues seem to be continuing this week also. The Sensex has lost around seven per cent since the beginning of June. The market is going through a phase of restructuring and is coming to grips with a market void of badla. This uncertainly is taking its toll on the market. The world of derivatives is still quite alien to the Indian financial system.

Impact
Indian Rayon: Unrelated deal, firm trends
THE proposed acquisition of a controlling stake in stake in PSI Data Systems may not adversely affect the valuation of the Indian Rayon stock.

PSI Data: Open offer in offing
THE stock of PSI Data Systems which declined sharply in Monday's trading on takeover price expectations not materialising may recover due to the gap between the market price and the open offer price.

Kirloskar Bros: Buyback embrace
THE sock of Kirloskar Brothers could show a firm trend in the short term on the back of a possible buyback back of shares.

Stocks
Lyons Range
THE Calcutta Stock Exchange on Monday saw continued unwinding and selling in the technology stocks. However, the overall volume was poor.

HDFC, Dr Reddy's continue to buck trend
THE market indices drifted downward on Monday in the backdrop of selling pressure from domestic mutual funds and traders. The BSE Sensex ended the day at 3,318.67 points, down by 63.09 points (1.87 per cent).

Technical Analysis
Bear domination
RIGHT from the initial hours of Monday's trading, the bears were in total control of the market. This left the bulls with no opportunity to recover during the day. The movement in Nifty was around 23 points. It closed with a loss of 18 points with respec t to the previous close. The market sentiment reading of the tradable counters remains strongly bearish.

Page One | Index | Home