The Hindu : Business : Sensex up 47 points

Online edition of India's National Newspaper
Tuesday, Aug 29, 2006

Business

Business

Sensex up 47 points

MUMBAI: Ignoring sluggish global cues, the Bombay Stock Exchange benchmark, Sensex, on Monday closed 47 points up in extremely low volume, which was affected by poor attendance in the market.

The market was dull for the major part of the trading session while activity picked up in concluding one hour following a smart rally in heavyweighted stocks RIL and SBI.

The Sensex, which was trapped in a narrow range of about 50 points, later surged to close at 11619.52 last Friday's close of 11572.20, a rise of 47.32 points.

On the National Stock Exchange, the S&P CNX Nifty added 15.15 points at 3401.10.

Bulls were believed to be engaged in speculative activity enlarging positions in select blue chip counters. Attributing investors' cautious approach to a slowdown in foreign institutional investment activity last week, brokers said there was poor attendance due to Jain Samvatsari and Ganesh festival, which adversely affected the trading volume. Bulls, however, made fairly good commitments at the fag end of the session, lifting the market sentiment, they added.

Foreign institutional investors reported a pull out of Rs. 26 crore from derivatives on August 25, taking the total withdrawals to Rs. 2,005 crore in seven days since August 17.

The broad-based BSE-100 index firmed up further by 24.47 points to 5915.29. — PTI

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