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|February 19, 1999||
Equities squander early gains; Sensex ends a tad up, 3354.92
Equities opened on a firm note and further rallied up, surrendered most of the initial gains at the fag end on profit-taking at higher levels, on the last day of the current settlement period at the Bombay Stock Exchange today.
The BSE Sensitive Index opened higher at 3373.24 points, shot up to the high of 3389.99 points, dipped to the low of 3350.65 before ending at 3354.92 points, as compared to 3351.05 points of the previous day, showing a gain of 3.87 points.
The BSE-100 index edged up to 1479.45 from 1479.40. However, the Dollex and BSE-200 eased a bit to 134.45 and to 342.73 from 134.75 and 343.57 points of the previous day.
Shares of Reliance, Glaxo and IPCL staged moderate gains on good buying support from foreign and domestic institutions while software companies, like Satyam Computer, Pentafour Software and NIIT declined on bull hammering.
Foreign institutional investors were picking up select scrips like Reliance and IPCL while the Unit Trust of India supported pharmaceuticals like Glaxo, brokers said.
The market opened on a cheerful note and continued to move up till mid-sesion, but profit taking at higher levels and squaring up on the last day of the current settlement at the fag end undid the initial gains, brokers said.
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