The Hindu : Business : Sensex up 67 points

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Tuesday, Jul 05, 2005

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Business

Sensex up 67 points

MUMBAI: Driven by sustained foreign institutional investment inflows, the Sensex on Monday extended its four-session rising trend and after scaling a new high of 7284.41, ended at a fresh all time closing high of 7277.31 on the Bombay Stock Exchange even as operators adopted a cautious approach.

The Sensex has gained 228.31 points in the four-day winning streak, setting the all time record peaks. After a weak start at 7186.74, the BSE benchmark 30-share index turned strong and rallied smartly to a new historic intra-trade high of 7284.41. Later, it softened due to profit taking at higher levels and after falling to 7186.74, ended the day at 7277.31 against last Friday's close of 7210.77, a net rise of 66.54 points.

The FIIs reportedly were heavy buyers in select heavyweight counters during the day.

Sentiment was boosted by a sharp fall in inflation which dipped to a two-year low of 4.10 per cent for the week ended June 18 coupled with expectations of increased inflows, brokers said, adding that over 100 new FIIs had registered with SEBI in the past six months.

However, local operators and investors were adopting a cautious approach in the rising market expecting a correction at any time, a market analyst said.

The major gainers were Infosys Technologies, Hindalco, Dr. Reddy's, RIL, HDFC Bank, ITC, Tata Power, CIPLA, HDFC, ACC, SBI, Grasim, ICICI Bank, ONGC, REL, Satyam Computer, TCS, Bharti Tele-Ventures and NTPC.

However, Larsen, Bajaj Auto, BHEL, Maruti, Tata Motor, HLL and Wipro met with selling and remained weak. — PTI

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