The Hindu : Sixth straight rise in Sensex

Online edition of India's National Newspaper
Wednesday, Sep 03, 2003

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Business

Sixth straight rise in Sensex

MUMBAI SEPT. 2. After a brief fall at the initial stages, share prices recovered smartly later on the Bombay Stock Exchange on Tuesday as heavy buying by bull operators in some heavyweight counters helped the Sensex to complete six-session gaining streak.

Besides the top heavyweight, Reliance, that continued its upward march, other index-based stocks such as HLL, Telco, SBI, HPCL, ICICI Bank, Ranbaxy, HCL Technologies, Satyam Computer, Zee Telefilms, Infosys, Bajaj Auto, BSES and ACC also finished with sharp to moderate gains.

The BSE-30 share sensitive index, after a firm start at 4341.73, dropped to a low of 4291.96 on profit-booking. However, it bounced back on renewed buying to touch an intra-day high of 4358.30 before concluding at 4339.20, a rise of 14.44 points against 4324.76. The broadbased BSE-100 index also inched up further to 2284.15 from 2283.00.Led by Satyam, select software stocks also witnessed good buying from operators. Refinery shares ruled mixed with HPCL, BPCL, IBP and IPCL registering handsome gains at close while IOC, Chennai Petroleum, Kochi Refinery and GAIL ended with marginal losses.

Foreign institutional investors, who pumped in Rs. 2,091.20 crores ($450.9 million) during August, continued their purchases in select index-based counters, dealers said. Operators were said to be picking up some of the bank stocks as well.

In the specified group, 84 including 17 index-based scrips registered gains while 109 others finished with losses. — PTI

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