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

Friday, December 28, 2001

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Markets

Ear to the ground
Wipro falls on lay-off fears
There was panic selling in the Wipro stock on Thursday. The rumour in the market was that the software major was laying off around 200-300 employees.

On the hedge
Out-of-the-money calls meet with good demand
THURSDAY'S trading in the derivative segment saw good demand for in-the-money equity and index calls. Here are some pointers from the day's trading:

Stocks
Nervous operators get into defensive mode
NEGATIVE sentiment prevailed in the bourses on rising uncertainty over the prevailing tension between India and Pakistan. With the prospects of a war looming large, the bears were "trigger-happy", forcing the bulls to stage a hasty retreat. The bear grip on the market strengthened as they managed to induce some selling pressure in select index heavy weights such as Wipro, Ranbaxy and ACC.

CSE members' bid to avoid contest at poll
THE broker members of the Calcutta Stock Exchange today, at a meeting, worked out a strategy to avoid contest at the forthcoming election on December 30, for constituting a full-fledged governing committee on December 30.

Technical Analysis
Bear domination
THE Bears intensified their pressure on Thursday. This brought about a drastic fall in the stock prices. The bulls were unable to make any impact during the day's trading.


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