The Hindu : Sensex touches 36-1/2 month high

Online edition of India's National Newspaper
Wednesday, Oct 01, 2003

Business

Business

Sensex touches 36-1/2 month high

MUMBAI SEPT. 30. The benchmark zoomed further by 51.19 points to close at nearly 36-1/2 month high of 4453.24 on the Stock Exchange, Mumbai, today following continued heavy buying from foreign funds as well as operators.

Heavyweighted stocks such as RIL, HLL, Infosys Technologies, BHEL, Grasim, Satyam Computer, Hero Honda, Hindalco, SBI, Ranbaxy, Telco, Tisco, Zee Telefilms, Cipla and Dr. Reddy's notched sharp to moderate gains, contributing to the Sensex rise. Select banking stocks namely Bank of Baroda, SBI, Corporation Bank and OBC were in also keen demand on continued buying by operators and retail investors. Elsewhere, some of the public sector enterprise (PSE) counters such as BEML, BHEL, Dredging Corporation, LIC Housing, NLC, GNFC and GMDC attracted good buying support and ended with smart gains.

The BSE-30 share sensitive index opened strong at 4428.16 against yesterday's close of 4402.05 and moved between 4456.41 and 4413.72 before concluding at 4453.24, a steep rise of 1.16 per cent. The broad-based BSE-100 index also improved further by 24.60 points to 2314.62. Right from the beginning, share prices displayed a firm trend on the back of positive advices from Wall Street as the Dow Jones Industrial Average and the Nasdaq Composite Index rose further by 67.16 points and 32.49 points respectively yesterday, a dealer said.

Foreign institutional investors, who bought shares worth Rs. 498 crores last week, purchased select blue chips while local mutual funds gave support to some of the old economy stocks.

In the specified group, 121 including 22 index-based scrips registered gains while 72 others finished with losses. — PTI

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