The Hindu : Business : Sensex spurts 106 points to 8744

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Friday, Nov 25, 2005

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Business

Sensex spurts 106 points to 8744

MUMBAI: The Sensex on Thursday rallied further by 105.70 points to end at its second highest closing level of 8744.04 on the Bombay Stock Exchange on increased buying activity by foreign institutional investors.

The highest ever closing for the index was 8799.96 recorded on October 4 and the record intra-day high of 8821.84 was touched on October 5.

The Sensex opened strong at 8655.14 against 8638.34 and rose further sharply to the intra-day high of 8765.71, before finishing at 8744.04, showing a steep rally of 1.22 per cent over the previous close.

Active buying by foreign institutional investors during the current month with a net purchase of Rs. 2,565.50 crore cheered up the market sentiment, brokers said.

Apart from heavy FII buying, good purchases by operators in the Futures and Options (F&O) segment on the last day of the November contract also boosted sentiment.

Reliance Industries continued to rise sharply after Wednesday's Standard & Poor's upgradation of RIL's rating by two notches to BBB from BB-plus and gained further by Rs. 12.30 to Rs. 844.35. Positive global advices and fall in world crude oil prices to $58.65 a barrel also partly aided the uptrend. Elsewhere, shares from the cement and FMCG sectors were also in the limelight on hectic buying.

Major gainers, which helped the index to rally, were Grasim, HDFC, BHEL, L&T, Infosys Technologies, ACC, SBI, Bharti Tele-Ventures, HLL, ITC, ONGC, Cipla, ICICI Bank, TCS, Wipro and Tata Motors. — PTI

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