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Equities weaken, but Sensex goes up

DALAL STREET

ALTHOUGH the benchmark Sensex gained about 60 points or 1.11 per cent on the Bombay Stock Exchange (BSE) to end the day at 5464.51, the overall trend indicated falling values, especially in the technology sector.

The surge in Sensex was mainly due to a steep rise in the shares of Infosys which gained about Rs. 390 to close at Rs. 12,240 and was aided by another index heavyweight _ ITC _

dealers said. But for these movements, there was not much of a gain in the broader market, they said.

While SSI continued to ride on its alliance with Nasdaq, gaining another eight per cent to close at Rs. 3,116.45, other fancied tech issues such as HCL Tech, VSNL and Kale Consultants ended lower.

In the A group, as many as 72 shares saw their values drop against 61 which gained. Of the 2,417 shares traded, 1,220 declined while 980 advanced.

The fall was quite significant in the technology stocks and market players expect more in coming days with institutions still not convinced about valuations, dealers said. _ Our Bureau

LYONS RANGE

THE Calcutta Stock Exchange on Tuesday drifted without direction. Following a general phase of easing, some of the pivotals rallied after 3 pm.

The DSQ Software scrip, however, hit the mark-up ceiling in the early part of trading. The Tisco, Digital Equipment, RIL and Ranbaxy counters closed with inter-day gains. Among the losers were the L&T, Global Telesystems, ACC, Silverline, Rolta and HCL I nfosystems scrips.

The CSE-50 closed at 146.91 points against the previous closing of 146.22. The total turnover of the stood at Rs. 1,364.75 crores. _ Our Bureau