The Hindu : Business : Sensex closes at new peak of 7797

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Friday, Aug 05, 2005

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Business

Sensex closes at new peak of 7797

MUMBAI: Led by Reliance and Tata Steel, the Sensex on Thursday surged up by further 41 points to end at yet another new peak of 7797.08 while investors shifted their focus to mid-cap and small-cap stocks on the Bombay Stock Exchange (BSE).

Shares of Reliance group companies hogged the limelight scoring sharp gains in response to an announcement of the share swap ratio for the demerger of RIL's stake in REL, REL Capital and Reliance Infocomm.

The top heavyweight Reliance, however, failed to maintain the day's higher levels due to profit booking by investors.

The BSE benchmark 30-share index opened past 7800-mark at 7810.05 and later fluctuated in a range of 7826.36 and 7756.97 before ending the day at 7797.08 against yesterday's close of 7756.47, a net rise of 40.61 points.

The broadbased BSE-100 index firmed up by 29.14 points to 4175.56.

Investors made fairly heavy commitments in Reliance group shares as the demerger of the group companies are expected to benefit them handsomely, brokers said.

Foreign institutional investors (FIIs), which reported net investments of Rs. 563.80 crore on Tuesday, took the FII inflows to Rs. 1,206.50 crore in the first two days of the week. — PTI

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