STOCK MONITOR
Stock markets remained subdued last week as US-Iraq war fears clouded the horizons. The Sensex breached the psychological level of 3300 on Friday and settled at 3287.86, 100 points lower over the previous week's close.
The biggest losers were technology and pharma stocks, partly because of their disappointing third quarter results. There was selling pressure across the board. Besides, the redemption pressure on Alliance forced a few favourite scrips of fund manager Samir Arora to slide. The fund offloaded shares in large numbers.
The markets closed the week on a weak note. It seems that the further course of action will be determined by developments on the war front and at the cabinet meeting scheduled for January 29. The outcome of the meeting assumes importance in view of market expectations that the petroleum minister may be stripped of his portfolio.
BPCL
Last week
