The Hindu : Fifth straight rise in Sensex

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

Business

Business

Fifth straight rise in Sensex

MUMBAI DEC. 2. The Sensex neared the 44-month high at close after breaking 5200-mark during trading, in volatile and stock-specific activity on the Stock Exchange, Mumbai, here today on alternate bouts of buying and selling.

Moving in a wide range between 5204.57 and 5123.80, the BSE barometer extended its winning streak to fifth session in a row and ended at 5186.08 against yesterday's close of 5160.85, a net gain of 25.23 points. The Sensex that gained by 364 points in the last five sessions, breached the closing level of 5172.13 on April 13, 2000, but has to go a long way to touch another 44-month high, if the closing level of a day before April 13 is taken into account. It had ended at 5426.82 on April 12, 2000.

The market, once again, was driven by foreign funds, which reportedly were heavy buyers in heavy weighted counters RIL and Tata Motors, besides a few others.

After a brief slowdown for a couple of weeks, foreign institutional investors made heavy net investments of Rs. 787 crores last week.

Domestic financial institutions, particularly Unit Trust of India and Life Insurance Corporation, however, were believed to be booking profits in select blue chip counters.

RIL, Tata Motors, ACC, Dr. Reddy's Lab, GACL, Grasim, HDFC Bank, Hero Honda, Hindalco, ICICI Bank, ITC, MTNL, Satyam Computer and SBI recorded marked gains on fresh buying by operators and retail investors. — PTI

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