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

Wednesday, October 31, 2001

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Markets

Ear to the ground
VST Ind in limelight
AFTER being in cold for some time, the Hyderabad-based cigarette company VST Industries is again witnessing buying interest. This was seen on Tuesday with a block deal of 50,000 shares (in demat segment) in VST Industries on the BSE. The block deal was s truck at Rs 171, the new 52-week high for the scrip. Market sources said that the shares may have been bought for ITC from a leading State-owned mutual fund.

Impact
Gujarat Ambuja: A flat mode
The proposed buyback of equity by Gujarat Ambuja Cements may not lead to any notable improvement in the valuation of the stock.

Hughes Soft: Some open interest
THE Hughes Software stock as well that of Hughes Tele may stay in the limelight and some speculative interest linked to a possible open offer may have a dominant effect of pricing trends in the short term.

On the hedge
Call premiums fall sharply; Bearish outlook for spot
TUESDAY's trading in the derivatives segment continued to reflect the bearish outlook on the market. Here are some trading pointers from the Index options segment:

Stocks
Workshop to enhance value for shareholder
The Walchand Centre for Financial Excellence, an initiative of Walchand Capital Ltd, is conducting a half-day workshop on ``Leveraging investor relations to enhance shareholder value''. The workshop will be held on November 7 and the objective of the sam e is to enlighten participants about investor relations as a tool to unlock value.

Lacklustre earnings dampen sentiment
DISAPPOINTING second quarter results in blue chips and a weak trend in Nasdaq on Monday combined to drive the key market indices down. The BSE Sensex ended the day at 2,957.45 points, a fall of 51.88 points or 1.72 per cent.

Technical Analysis
Uptrend terminated
RIGHT from the initial hours of Tuesday's trading, the bears were in total control of the market. This led to the termination of the 19-day old uptrend in the index. The movement in the index was around 17 points and it closed with a loss of around 14 po ints with respect to previous close. The market sentiment changed in favour of the bears.


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