The Hindu : Business : Sensex gains further

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Wednesday, May 04, 2005

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Business

Sensex gains further

MUMBAI: The Sensex on Tuesday gained further ground on the back of rally in select blue chip counters and ended 21.62 points higher at 6216.77 on the Bombay Stock Exchange due to continued buying, even though profit taking trimmed the midway sharp gains.

Sentiment was adversely affected to some extent by the report that the Government has called off the sale of controlling stake in 13 public sector companies, which had been cleared by the previous Government, a broker said.

The 30-share BSE sensitive index opened marginally higher at 6200.39 against the previous close of 6195.15 and after fluctuating between 6246.63 and 6189.16, ended at 6216.77, showing a moderate gain of 0.35 per cent over the previous close.

Foreign institutional investors adopted a cautious approach ahead of the Federal Reserve meeting to consider hike in interest rate, brokers said.

Among the PSU counters, BHEL remained on the limelight with a sharp gain of Rs. 21.75 at Rs. 814.70 on heavy buying after a report that four international companies, including BHEL, were bidding to build a new power plant in Albania, they added. Among the gainers, HDFC, SBI, Reliance, ACC, Bharti, ITC, Maurti, ICICI Bank, Hindalco, Tata Motors, Dr. Reddys' and Tata Power closed higher on good buying.

However, a few other scrips such as Bajaj Auto, REL, Satyam, L&T, HPCL, HDFC Bank, Grasim, Hero Honda and Wipro met with selling and closed weak. The volume of business was relatively higher at Rs. 1,594.44 crores against the previous level of Rs. 1,478.72 crores. — PTI

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