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Anand Ram

GLOOMY was the way to describe what transpired at the markets on the last day of the trading week. Expect for day one, the bourses tumbled south on all other days, dropping a total of around 3 per cent this week. Terrorist attacks were the single major cause to blame for the attrition. The bears as usual had a banner day driving down prices.

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The BSE Sensex shed 21.85 points or 0.65 per cent on Friday. However, the index charted a slightly different course from that on other days as it swung in a seesaw direction suggesting a tussle between the bulls and the bears to dominate the session. The index climbed to its intra-day high of 3373.4 points in the early hours of the day and later continued downward. It floored to its day's low at 3310.86 points a few hours before the end of the session. However, an attempt at recovery was partially successful as the index ended at 3333.76 points.

Advancing stocks trailed declining stocks, registering 375 to 900. Volumes too followed this trend notching 3.75 crore shares that gained against 9 crore shares that declined. The depth indicator showed 46 stocks that topped their yearly highs in contrast to 34 stocks that hit their 52-week lows.

Friday's trading saw heavyweights have a more salutary effect on the index while PSU stocks tossed it down.

Zee Telefilms was the sole index constituent that managed to have a higher explanation to the index's fall, dragging it down by 0.16 per cent. The stock depreciated by 7.94 per cent to end at Rs 134.85.

Pentasoft Technologies lost Re 0.1 to close at Rs 22.8. The company has announced that the worst was behind after it slashed 70 per cent of its workforce in the last one year. It has managed to tide over its liquidity problems and cut costs. The company's share volumes were moderate at 46,589 shares.

Despite news that Barista Coffee - in which Tata Coffee has a 34 per cent stake - plans to expand its retail outlets to 250 across 22 cities by the end of this fiscal, sentiment did not do the Tata Coffee counter any good. As a result, the stock lost Re 0.7 to close at Rs 85.30.

Similarly, though Tata Tea had recommended an interim dividend of Rs 7 a share, the stock's market price dropped by Rs 1.7 to finish at Rs 169.55.

State Bank of India has entrusted Tata Consultancy Services the task of providing banking solutions to its 3000 computerised branches at a contract valued at around Rs 100 crore. SBI emerged weaker in Friday's trading closing at Rs 220.3, down marginally by 0.4 per cent.

National Fertilizer, a State-run company rose to its yearly high on Friday after the Government said that it would invite bids for a 51 per cent sale of stake in the company. The counter closed higher at Rs 37.4, gaining over 7 per cent in the process.

Glenmark Pharmaceuticals opened at Rs 280 - higher than Thursday's close - after it reported a 96-per cent rise in net profits from the same period a year earlier. However, the counter soon found itself a victim of bear pressure after the stock was driven down by Rs 2.2 to close at Rs 268.8.

Wipro saw a bullish streak engulf its counter after the stock was reported to be on the lookout for acquiring an overseas consultancy firm to attain critical mass. The stock climbed by Rs 42.8 to close at day at Rs 1,593.20.

Other gainers for the day included stocks such as Bongaigaon Refineries, GTL and Rashtriya Chemicals. Losers, on the other hand, featured stocks such as ONGC, Hindustan Petroleum and NIIT.

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