The Hindu : Business : Sensex firms up

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Thursday, May 26, 2005

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Business

Sensex firms up

MUMBAI: The Sensex on Wednesday extended its rising trend for the fifth straight session and rose by 32.23 points to end at 6597.60 on the Bombay Stock Exchange on persistent buying, mainly by local funds.

However, investors made a cautious approach ahead of tomorrow's F&O expiry and also due to weak global trend, a broker said. The BSE benchmark 30-share sensitive index opened marginally better at 6566.84 against yesterday's close of 6565.37, but soon fell to a low of 6537.61 on fresh selling. The broadbased BSE-100 index rose further by 17.77 points to 3546.78.

Thereafter, it picked up strength on fresh buying at lower level and recovered smartly to a high of 6612.25 and later ended at 6597.60, showing a smart rise of 0.49 per cent over the previous close. Domestic mutual funds, who have already made net purchases of Rs. 898.81 crore in equities since May 17, continued to be the major buyers. However, FIIs were consistent net sellers and sold shares worth Rs. 408 crore since last Tuesday, a broker said.

Index majors such as Infosys, Ranbaxy, SBI, Hero Honda, ITC, Dr. Reddys', ONGC, Grasim, Bajaj Auto, Maruti, ACC, Wipro, Cipla, RIL, Tata Power, GACL, Satyam and HDFC closed firm on heavy buying.

However, Zee, Tata Steel, L&T, BHEL, HDFC Bank, Hindalco and Tata Motors remained weak on fresh selling. — PTI

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