The Hindu : Sensex up 116 points

Online edition of India's National Newspaper
Tuesday, Dec 02, 2003

Business

Business

Sensex up 116 points

MUMBAI DEC. 1. The Bombay Stock Exchange sensitive index rallied by a whopping 116.03 points and closed at a new 47-month high of 5160.85 today due to frenzied buying by foreign institutional investors and domestic funds. The spurt in the Sensex could be gauged by a steep rise in 28 out of 30 index based scrips.

The BSE-30 share sensitive index opened firm at 5086.86 against last Friday's close of 5044.82 and gradually moved upwards and after breaching the year 2003 peak of 5135 recorded on November 4, touched a high of 5166.56. Later, it concluded at 5160.85, a sharp rise of 2.30 per cent.

The all time high for the Sensex was 6150 touched during trading in February 2000. IT counters, which were not much active in the current rally, were back in action, attracting heavy buying and stood at the forefront, a dealer said adding that even some of them touched their new 52-week high.

Digital Globalsoft were the most sought after stocks and finished 11.85 per cent up on the news that Hewlett-Packard (HP) would buy out the 49.4 per cent public stake in Digital Globalsoft at an offer price of Rs. 750 per share.

Reflecting the sharp rise in IT stocks, the sectorial BSE-IT index was finished up by 96.28 points or 5.32 per cent at 1904.70 compared with previous close of 1808.42.

— PTI

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