Mumbai, Aug 24: Software stocks were back in demand after Tuesday's break. A combination of buying interest by domestic and foreign funds and operator interest in the second half of the day buoyed stocks from the software sector. The net impact on the Sensex was a gain of 14 points at the end of the day.Wipro, and Silverline were the star performers with a gain of more than 10 per cent each. SSI, DSQ Soft, and Satyam Computers also recorded handsome gains. Meanwhile, SSI, and Wipro recorded all-time high volumes. Infosys, Global Tele, and HFCL also closed on a strong note. Meanwhile, the stocks from the old economy remained under pressure. Reliance, ITC, HLL, MTNL, L&T, and ACC showed a negative close. The pharma stocks like Dr Reddy, Cipla, and Ranbaxy also recorded investment buying.For the last several settlements, marketmen point out, major speculative counters spurt on the last day of settlement in Calcutta (Thursday) due to operator interest. But subsequently, these stocks are unable to maintainmomentum.
In Wednesday's trading, there was good investment buying in Wipro and SSI, sources maintained. Interestingly, the outstanding positions on NSE remain unchanged with net outstanding unchanged at Rs 2,090 crore. Operators continue to maintain long positions in software counters which have bounced back on Wednesday after a short reaction and look good for a further upmove, sources pointed out.Mirroring the sentiment, the BSE sensitive index opened at 4449.64 points, touched a peak of 4471.86 points, and closed at 4459.26 points. Meanwhile, the S&P CNX Nifty also gained one point, and closed at 1387.65 points.
The low for the day was 1374.9 points, and the high for the day was 1390.45 points.The advances stood at 594, and the number of declines was at 640. Around 135 stocks remained unchanged. The trading volume on the BSE stood at Rs 4,040 crore, and the same figure on the NSE was Rs 6,050 crore.The stocks which gained more than 7.9 per cent were Wipro, Silverline, Raymond, Vikas WSP, Shyam Tele, Hinduja Finance, Pun Com, Shri MM Soft, Cinevista, VXL Inst, Alps Info.
Other gainers for the day were Satyam Comp, SSI, DSQ Soft, Dr Reddy, Moser Baer, Orient Info, Peerless Shipping, Gramophone, Today's Writing, Blue Dart, Khyati Resort, Birla Global.At the same time, stock which dipped more than 7.9 per cent were United Breweries, Synergy Log, Best Mulyankan. Other losers for the day were Top Cassettes, GV Films, Advent Comp, Valiant Com, Bharat Forge, Anco Com, Jupiter Orga, Mirc Elect, Veronica Lab, Sarvodaya Lab.
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