The Hindu : Cement, PSE shares in limelight

Online edition of India's National Newspaper
Wednesday, Nov 12, 2003

Business

Business

Cement, PSE shares in limelight

MUMBAI NOV. 11. A sharp rally in cement and select public sector enterprises (PSEs) shares helped the Sensex rise further sharply and after crossing the 5000-mark, closed at 5030.65, showing a smart rise of 32.07 points over the previous close of 4998.57.

Cement shares attracted heavy buying and ended with sharp gains on expectation of a rise in cement prices.

Elsewhere, PSE stocks also were in keen demand on renewed buying support from institutional investors and closed sharply higher.

The BSE-30 share sensitive index opened barely steady at 4998.79 against yesterday's close of 4998.57 and after moving erratically between 5039.20 and 4988.88, concluded at 5030.64. The broad-based BSE-100 index improved further by 25.33 points to 2603.65.

Marked to moderate rally in other index-based shares such as Bajaj Auto, BSES, Cipla, Dr. Reddy's, Hindalco, ICICI Bank, Infosys Technologies, ITC, Ranbaxy, Wipro SBI and Tata Power also partly contributed to the Sensex rise.

Sterlite continued to be the most sought after stock and closed in the ten per cent upper price band for the third successive day.Meanwhie, IT scrips displayed a mixed bag with select scrips gaining marginally while others finished in the negative territory on profit-selling.

The National and Bombay stock exchanges will have a special trading session on November 15 to maintain uniformity in the trading mechanism.— PTI

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