Fast track
Select MNCs take the elevator
THE broad markets continue to be on a flat terrain. The trading still seems to be with a downward bias. There is little in the business environment and trends in fund flow to warrant a change in the near term. Locked in a narrow range are a whole range of frontline stocks.

Impact
Bhagyanagar Metals: The `last mile' buyback
THE proposed buyback programme announced by Bhagyanagar Metals may not enthuse much interest in the stock.

Cummins: The overseas thrust
INDICATIONS that Cummins India could see a sizable jump in revenues from new business sources could lead to some firm trends in the stock price in the near term.

Zee Tele: A show of limited value
THE sale of sizable stake in Zee Telefilms by its promoters, apparently to pay back funds to the company, may not viewed with favourably.

Stocks
Narrow band in CSE
THE Calcutta Stock Exchange on Monday saw marginal movement in its index. The volume was also poor. The Satyam Computers scrip declined by 5 per cent and closed with a turnover of Rs 34 crore.

ITC, Infosys Technologies save the day
CLOSE on the heels of a 42 point drop on Friday, the Bombay Stock Exchange Sensex shed another 17.79 points on Monday to close at 3278.92. The weak trend was always on the cards with the Nasdaq composite index having declined by over 60 points on Friday.

Technical Analysis
Downtrend triggered
MONDAY'S trading witnessed a mild bear domination. This led to the reversal of the uptrend in the index. The movement in the index was around seven points. It closed with a loss of five points with respect to Friday's close. The sentiment reading of t he tradable counters changed to bearish.

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