Weak sentiments in markets
Mumbai: A late recovery in equities helped the markets firm up at the fag end of the trading session on Friday as domestic funds led some buying. Market watchers say that in spite of this recovery, overall sentiment is weak because of higher net outstanding positions and tighter margin limits. Foreign institutional investors were net sellers on 13 and 14 January in spite of their earlier enthusiasm. The combined turnover of the Bombay Stock Exchange and the National Stock Exchange stood at Rs 8,764 crore.

There was activity in Glaxo India and SmithKline Beecham Pharmaceuticals shares following the announcement abroad of their impending merger. Infotech stocks were rather weak and most of them suffered losses. These included Silverline Industries, Aptech, Aftek Infosys and Orient Information.

The BSE’s Sensex gained a marginal 26.5 points to close at 5,471, while the S&P CNX Nifty closed at 1,622.75, a gain of 1.35 points.
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Circuit breaker levels hiked
Mumbai: The Securities and Exchange Board of India has allowed stock exchanges to increase the circuit breaker levels – both upper and lower – by an additional four per cent after the stocks hit the present eight per cent level. The increase will be allowed only after a cooling off of half an hour, during which the trading in the stock concerned will be frozen. The addition will be initially applicable to the top 100 high-turnover stocks. Sebi has asked the Bombay Stock Exchange and the National Stock Exchange to identify the top 100 stocks.

The decision was taken at a meeting attended by representatives of the BSE, NSE, Delhi Stock Exchange, Calcutta Stock Exchange, Ahmedabad Stock Exchange and Ludhiana Stock Exchange.
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