The Hindu : Business : Sensex gains 86 points in thin trading

Online edition of India's National Newspaper
Tuesday, Jul 04, 2006

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Business

Sensex gains 86 points in thin trading

MUMBAI: The Sensex (BSE benchmark index) gained 86 points to end at 10695.26 on Monday amid extremely low trading volumes, confined to frontline counters, marred by incessant rains in Mumbai that led to sparse attendance of traders.

The gaining string was extended to a third straight session as bull operators continued to make commitments in the cash and derivatives segments.

The Bombay Stock Exchange (BSE) 30-share sensitive index fluctuated in a range of 10729.92 and 10589.46 before ending the day at 10695.26 against Friday's close of 10609.25, a net rise of 86.01 points or 0.81 per cent.

The National Stock Exchange's (NSE) S&P CNX Nifty also shot up by 22.75 points or 0.73 per cent to 3150.95 from the previous close of 3128.20.

The trading activity was adversely affected following disruption of transport services caused by heavy rains in Mumbai for the third consecutive day.

The market sentiment, however, was aided by a firm trend in Asian markets. The Nikkei ended up by 66.44 points on Monday and the Hang Seng by 59.04 points. The market also was well supported by the expectations of better than expected quarterly corporate earnings, to be announced in the middle of the month. Foreign institutional investors activity is also expected to pick up in the Indian bourses only after the announcement of financial results.

The volume of business was extremely low at Rs 2,411.50 crore. Reliance continued to be the top traded scrip and clocked a turnover of Rs. 222.54 crore. — PTI

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