THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Thursday, October 19, 2000

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Markets

Fast track
Cipla: On firm grounds
EQUITY indices seem to have fallen into a bottomless pit. The BSE Sensex has shed about 1,000 points over the last month to currently hover around 3,600 points. During this phase most of the attention has been upon software companies that seem to hold no charms any longer in spite of announcing sharp earnings growth in the first half of the ongoing financial year.

Impact
Grasim: Expected merger
THE possibility of a merger of one of the acquired cement units with Grasim Industries may have little bearing as far as the valuation of the latter's stock is concerned.

Goldstone Tech: Firm trends in store
THE proposed plan for the demerger of the telecom division of Goldstone Technologies does not contain any major surprises.

Stocks
Select IT stocks decline
CALCUTTA: SELECT equities continued to decline at the Calcutta Stock Exchange on Wednesday.

Infotech stocks battered as Sensex plunges
STOCKS continued to bleed another day at the Bombay Stock Exchange. The Sensitive Index was down 1.94 per cent or 71.16 points to close at a 18-month low of 3,593.63 points. The index had dropped nearly 74 points in the preceding two days.

Technical Analysis
Slide continues
THE downtrend in both the indices continued on Wednesday with the bears dominating the day's trade. Market sentiment continued to be bearish with a marginal increase in value. The current downtrend may continue on Thursday in both the indic es with the possibility of the bearish sentiment remaining intact.


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