Cyclical counters L&T, ACC and Telco powered trading on the Calcutta Stock Exchange (CSE) yesterday and the bourse witnessed good buying on side counters as well. L&T and ACC both gained about seven per cent.
The CSE-40 index gained marginally by 2.6 points to close at 2,270.74 points against the previous closing of 3,268.14 points. The index touches a high of 2,286.25 points in intra-day trading.
Software counters, however, took a beating with investor interest moving to cyclicals, said CSE dealers. "Software scrips lost between 1.5 to 2 per cent on dull trading", said dealers. "Over the past three days, the market has been on a healthy buying trend and speculative trading seems to have taken a backseat", said dealers. The Telco script touched the upper circuit to freeze at Rs 238.40 and declined to a low of Rs 221 in intra-day trading.
ACC closed at Rs 195.90 after touching a high of Rs 199.70 and a low of Rs 185.50. L&T closed at Rs 344.20 following a high of Rs 347.80 and a low of Rs 322.50. Satyam Computers closed at Rs 1,214 (Rs 1271.70) and Pentafour Software at Rs 1,181.60 (Rs 1,200.90). ption" content="Sun Earth Ceramics has informed the Bombay Stock Exchange that with reference to the court-convened meeting of the company held on July 24, 1999 for approving the scheme of arrangement for the transfer of its pipe division to Roofit Industries, the secured, unsecured and sunday creditors, the preference shareholders and equity shareholders of the company have unanimously approved the said scheme of arrangement.">