Fast track
Cement stocks losing ground
THE stock market is still groping for direction with the benchmark BSE Sensex being confined to a narrow range. Though there has not been any significant flow of positive news, there has been quite a few negative developments.

Impact
Castrol: Smooth near term
THE stock of Castrol (India) may notch up further short-term gains riding on the back of its firm performance in August.

Foseco: Hurdles cleared?
WITH BP Amoco set to go through with the open offer for Castrol, Foseco's stock may also show firm trends.

SBI Home Finance: Equity overhang
THE proposed preferential equity offer by SBI Home Finance may weigh on the stock in the near term.

Stocks
Downtrend in Lyons Range
FRONTLINE equities declined on Lyons Range on Friday. The CSE-40 closed at 1715.04, down from 1730.6, while the CSE-50 settled at 112.59, after opening at 113.73.

Techs recover; HLL plays spoil-sport
FOR most part of the day, the BSE Sensex was tracking the overnight loss recorded at the American bourses. However, a late recovery in technology heavy-weights such as Infosys and Satyam coupled with a firm trend in Cipla and Castrol helped the Sensex cl aw back from the day's low of 3287.58.

Technical Analysis
Restricted movement
FRIDAY'S trading witnessed restricted movement in the index. The Nifty moved within a band of 12 points. This left the sideways trend in the index intact. Neither the bulls nor bears could gain from the day's trading. The Nifty closed around Thursday's c lose. The sentiment reading continues to remain in favour of the bulls.

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