BUSINESS

Brisk trading on Lyons Range

KOLKATA, JAN. 20. A fair bounce back in values of technology shares assisted by revival of support was the feature of trading on the Calcutta Stock Exchange last week which also witnessed some of the old economy counters urging in the wake of brisk support. But even the uptrend in the technology group could not be sustained as operators started winding their positions at higher levels partly because major buying orders from foreign institutional investors were still not forthcoming. Moreover, a sharp dip in prices of software shares in overseas markets influenced the sentiment here to a considerable extend releasing bouts of selling pressure under the impact of which prices eased, though majority of technology shares retained part of the gains as the week ended.

The cement sector is by and large expected to be witnessing hay days in the near term and this confidence led to repeated buying orders in cement shares helping them to post perceptible gains under the lead of ACC.

The CSE's 40-share index closed the week at 1765.64 points compared to 1753.62 points at the previous week end after hitting a high of 1785.50.

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