Thursday May 30, 12:30 PM
War dice rolls on... |
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By Equitymaster.com
The bourses have fritted away all their gains in the past hour. One could see a nervous exit after an official on the Pak side commented on the nuke use. Almost all pivotals have given back their gains.
The BSE Sensex is at 3,160 (no change) and the NSE Nifty is at 1,042 (no change). The rupee is trading at Rs 49.00 per US dollar.
VSNL, which has been embroiled in a controversy regarding the management's decision to invest Rs 12 bn in Tata Teleservices, is down marginally. Another telecom player, Hughes Tele, which had declared an encouraging FY02 performance, is in the red. However, this counter was among the gainers on open.
Software pivotals are at more or less yesterday's levels. These include Infosys, Satyam, Wipro (WIPRd.BO, news) and Digital. Second rung counters like GTL, HFCL and HCL (HCLL.BO, news) Info are up marginally. NIIT is down today, a likely result of profit taking post yesterday's gains.
PSUs are largely lacklustre. HPCL, BPCL and IPCL are down. However, Sail is up 11% despite the company declaring Rs 1.7 bn loss in FY02. The only positive for the company is that it has managed to avoid being referred to the BIFR.
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