The Hindu : Sensex posts further gains

Online edition of India's National Newspaper
Thursday, Oct 30, 2003

Business

Business

Sensex posts further gains

MUMBAI OCT. 29. A rally in select counters helped the Sensex post a further moderate gain of 36.30 points to close at 4744.10 on the Stock Exchange, Mumbai, today, following increased purchases by foreign funds and some token buying by retail investors.

Even though buying activity was fairly good, it failed to reflect on the Sensex as retail investors were squaring up their positions ahead of the expiry of October derivatives contract tomorrow, brokers said.

The encouraging Q2 results by Tata Motors, ITC and some other major counters such as Tata Elexi, ONGC and HCL Info failed to attract any worthwhile buying, they said.

Mirroring the market trend, the BSE benchmark 30-share index resumed on a better note at 4732.79 and after falling temporarily to 4684.42, recovered smartly on fresh bouts of buying and closed at 4744.10 against yesterday's close of 4707.80. The broad-based BSE-100 index improved by 14 points to 2395.16. Major stocks such as Reliance, GACL, Grasim, Infosys Technologies, State Bank, Bajaj Auto, Cipla, Dr. Reddy's Lab and Hindalco attracted heavy buying and closed sharply higher. Other firm spots were ACC, Castrol, Colgate, BSES, Glaxo, HCL Technologies, Hindustan Lever, Nestle, Tisco, Hindalco, MTNL and Satyam Computer. However, BHEL, HPCL, L&T, Hero Honda, ITC, Ranbaxy, Tata Motors, HDFC and ICICI Bank closed weak.

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