The Hindu : Business : Spate of positive news pushes up Sensex

Online edition of India's National Newspaper
Friday, Sep 22, 2006
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Business

Spate of positive news pushes up Sensex

MUMBAI: A spate of positive news kept the market mood upbeat for the second straight day on Thursday, helping the key stock market index settle at over a four-month high of 12274.27.

Firm global cue, hectic buying by foreign funds, falling world crude oil prices, U.S. Fed's decision not to raise short- term rates and fresh support from domestic mutual funds, triggered across-the-board buying.

The Bombay Stock Exchange 30-share Sensex opened strong at 12167.91 and remained in the positive terrain throughout. It even touched an intra-day high of 12285.90 before closing at 12274.27, a level not seen since May 12, displaying a sharp rise of 165.13 points or 1.36 per cent.

The main market movers, foreign institutional investors pumped in nearly Rs. 772 crore on the first two days of the week.

They also purchased shares worth Rs. 128.19 crore on Wednesday in the cash segment as per provisional figures while injecting Rs. 296.95 crore in derivatives on the same day.

Domestic mutual funds, which kept a low profile for the last few sessions, also picked up shares to the tune of Rs. 127.28 crore on September 19.Fast moving consumer goods (FMCG) counters were at the forefront on news that some companies have raised prices of their products which would add to their bottomlines. — PTI

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