Fast track
A calm before the storm?
AN uneasy calm prevailed in the stock market ahead of the crucial Securities Exchange Board of India's (SEBI) meeting on Monday. The meeting will decide on the SEBI panel's proposal of banning carry-forward trading at the bourses. So, the future course o
f market direction is directly dependent on the outcome of the meeting.
Impact
Advanced Micronic: Some upside
THE proposed open offer for Advanced Micronic Devices by Opto Circuits may lead to some upside in the former's stock, which currently trades at Rs 9.80. Some buying interest may bridge the gap, with the open offer price which is Rs 16.62 per share.
Ballarpur: Acquiring the competition
THE acquisition of the entire equity of Sinar Mas Pulp & Paper (India) may lead to a significant consolidation of Ballarpur Industries' (BILT) position in the paper industry. But near-term price upside may be limited by the fact that this has been expect
ed and the specifics of the deal are not out as yet.
Stocks
Lyons Range
THE Calcutta Stock Exchange on Friday saw a mixed price trend at close. Among the notable gainers were the counters of Zee Telefilms (9.05 per cent), SBI (4.45 per cent) and Global Tele (3.03 per cent).
Sensex down on lack of confidence
THE lack of confidence among investors became apparent on Friday when the market indices slipped a bit ahead of an important Securities and Exchange Board of India (SEBI) meeting next week. The forthcoming SEBI meeting, that will discuss the many dimensi
ons to `badla' trading and its continuation, left the benchmark BSE Sensex lower by 8.50 points at 3,559.77 points.
Technical Analysis
Downtrend triggered
THE movement of the market on Friday was restricted to a narrow range similar to that of Thursday. During the day, a fresh downtrend was triggered in the index terminating the prevailing uptrend. The bullish sentiment of the tradable list became neutral
favouring neither the bears nor bulls.
