Financial Daily
from THE HINDU group of publications

Saturday, July 07, 2001





Fast track
Balaji Telefilms in spotlight
THE past couple of weeks have been lacklustre for the equity markets, with uncertainties surrounding the phase-out of the carry-forward system continuing to exercise a moderating influence on trading volumes. However, the bond markets have in contrast be en quite active on the recent rate cut by the US Federal Reserve, the sixth such cut in the year.

Zee Telefilms: Flat view on show
THE indications that Zee Telefilms may not get funds lent to its group companies within the time-frame indicated may not be viewed favourably by the markets.

Binani Zinc: Limited influence
THE indications by the Government that Binani Zinc would be allowed to bid for Hindustan Zinc may not have any positive influence in the short term. These are the only two zinc producers in the country and there were concerns over monopoly.

Infosys checks negative movement
THERE was nothing to write home about the market on Friday. Trading remained flat, as the benchmark Bombay Stock Exchange sensitive index, the Sensex, ended down 0.36 per cent or 11.85 points to close the day at 3305.78 points from the previous day's cl ose of 3317.63, off 3,286.74 points, its lowest intra-day level since April 17.

Techs decline in Lyons Range
THE Calcutta Stock Exchange on Friday saw some of the top technology shares decline in the rolling segment. Among the losers were the scrips of HFCL (9.08 per cent), Digital Equipment (7.89 per cent), Zee Telefilms (6.95 per cent) and NIIT (5.74 per cent ).

Technical Analysis
Downtrend triggered
FOR the third successive day, the Nifty moved within a close band on Friday. The movement in the Nifty was restricted to 10 points. However, this was sufficient to initiate a fresh downtrend in the index. It ended for the week with a loss of 4 points wit h respect to Thursday's close. The sideways trend in the index continued on Thursday. The market sentiment reading of the tradable counters still stands in favour of the bears.

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