Financial Daily from THE HINDU group of publications
Saturday, Oct 26, 2002
Financial Daily from THE HINDU group of publications Saturday, Oct 26, 2002 |
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Markets
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Stock Markets IPCL continues to decline Our Bureau
KOCHI, Oct. 25. THE IPCL stock has been marking a southward trend on the major bourses over the last one week. The stock closed today at Rs 56.50 on the BSE and Rs 56.45 on the NSE, shedding over 6 per cent in the last five trading days. About 6 lakh shares were traded on the NSE and around seven lakh shares on the BSE, which contained several block deals. Sources said that there were rumours of a leading petrochemical company selling in this counter. "It's tough going for the petrochem sector right now. High input prices of some key products have not helped. Besides, post-divestment and buyback, there is a singular lack of interest in the counter," a chief dealer of a broking house said. Market watchers maintain that the current depressed scenario and range-bound market were also casting a dampener. Interestingly, the delivery-to-traded quantity ratio has been rising on the NSE. The ratio stood at 68 per cent today.
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