Happy ending for 2001 as IT stocks shine
Hindu Business Line, Jan 01, 2002.
by Krishnan Thiagarajan

AMID all the turbulence in the stock markets worldwide during the year, the Indian bourses ended the year 2001 on a positive note. Fuelled by the uptrend at Nasdaq, the software stocks, particularly the second rung stocks registered a sharp rise during the course of the day's trading.
Shares with heightened activity
Those with a rise in price Those with a fall in price
Scrip closing Price Rs. No.of shares Scrip closing Price Rs. No.of shares
  31/12 28/12 31/12 28/12   31/12 28/12 31/12 28/12
Soffia Soft. 43.70 36.00 12392 100 Procter &g(d 455.00 460.00 286 482
MphasiS BFL 311.45 259.55 19381 3617 Guj.amb.ce(d 189.95 192.50 66547 26131
Mascon Glo(d 66.00 55.00 601932 389999 Niit Ltd.(dm 224.30 227.65 2754255 1118593
Cmc Ltd.(dm) 364.05 303.40 91980 25353 Sri Adhika(d 132.15 134.65 453003 474383
Mukta Arts 71.45 59.55 70305 8842 Eih Ltd(dm) 228.25 234.95 845 5228
Cybertech(dm 28.35 23.65 53122 16004 Ahmdabad E(d 62.00 63.95 350 930
Rolta (i) Dm 112.45 93.95 2191538 1338132 Ashok Leyl(d 69.65 72.05 46918 16837
Pentamed.g(d 60.75 50.80 2856303 1615748 Goodyear (i) 30.30 31.35 930 100
Silverline(d 65.05 54.40 3074874 1738490 Reckitt Be(d 141.65 153.15 17661 1996
Tips Indus. 113.20 96.00 523589 100 Marico In(dm 184.95 220.10 3340 485

The market sentiment was also aided by expectations that hostilties in the Indo-Pak border may not escalate into a full-fledged conflict.

The BSE Sensex closed for the year at 3262.33 points, up by 77.89 points (or 2.45 per cent). The Sensex however, ended the year with nearly an 18 per cent decline in value.

The gross turnover at the BSE inched up marginally from Rs. 1505.92 crore on Friday's trading to Rs. 1508.15 crore during the day.

The advances to declines ratio was overwhelmingly in favour of the gainers, with 1,024 stocks gaining in value while 117 stocks logged declines.

The broad-based and composite BLó 250 Index also appreciated by 2.3 per cent (or 21.9 points) to close for the year at 968.3 points. The market capitalisation of the BLó 250 Index was Rs. 3,89,250.80 crore, gained by Rs 8984.80 crore from Friday's close.

All the sectoral indices ended in the postive territory. Among the major gainers were PSU Index, which appreciated by 2.8 per cent, Capital Goods Index by 2.7 per cent and Banks & FI Index by 2.6 per cent.

Among the industrial indices, the major gainers were Tyres and Tubes -8.8 per cent, Detergents - 6.4 per cent, Petroleum - Refining and Steel Products - 6 per cent and Chemicals - Inorganic and Speciality - 5.8 per cent.

The list of gainers was populated with second rung software stocks, which went up sharply accompanied by robust trading volumes. Among the major gainers were Soffia Software, MphasiS BFL, Mascon Global, CMC, Pentamedia Graphics and Silverline Technologies.

The MphasiS BFL stock appreciated by Rs. 51.9 (or 20 per cent) to settle at Rs. 311.45. The trading volumes surged from 3617 shares on Friday's trading to 19381 shares on Monday's trading.

The Mascon Global stock also appreciated sharply by Rs. 11 (or 20 per cent) to close for the day at Rs. 66. The trading volume shot up from 3.89 lakh shares on Friday's trading to 6.01 lakh shares during the day.

This movement has to be seen in the light of an issue of 25 lakh equity shares proposed by the company at a price of Rs 50 per share.

The Sierra Optima stock closed for the day at Rs. 63, appreciating by 11.85 (or 23 per cent) during the day. This uptrend has to be viewed in the light of the decision of Sierra Optima to restructure and reduce the share capital of the company. This move by the Sierra Optima management has been initiated in the light of Sierra Atlantic severing the links with the company sometime back..

The other major gainer during the day was CMC. The stock appreciated by Rs. 60.65 (or 20 per cent) to close at Rs. 364.05. Following the change in management, with Tata Sons assuming charge, the stock has been on an uptrend and has landed a couple of contracts.

This rally even extended to other media and entertainment stocks also. The Mukta Arts stock appreciated by Rs. 11.9 to close for the day at Rs. 71.45. The trading volumes jumped from 8842 shares on Friday to 70,305 shares during the day.

Tips Industries stock appreciated by Rs. 17.2 to close for the day at Rs. 113.20. The trading volumes jumped from 100 shares on Friday's trading to 5,23,589 shares during the day's trading.

The losers during the day were Marico Industries, Reckitt Benckiser, Good Year, Ashok Leyland, EIH, Shri Adhikari Bros, NIIT and Gujarat Ambuja Cements.

The Ashok Leyland stock dipped by Rs. 2.40 to close for the day at Rs. 69.65. The trading volumes jumped from 16837 shares on Friday's trading to 46918 shares during the day's trading. The fall has to be seen in the light of the resignation of the Executive Director (Marketing) last week.

The NIIT stock also remained depressed and settled lower by Rs. 3.35 to close at Rs. 224.30. The trading volumes surged from 11.18 shares on Friday's trading to 27.54 lakh shares during the day's trading.

 
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