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Sensex recovers on renewed buying

MUMBAI JUNE 11. Select heavyweight counters attracted heavy buying by foreign funds on the Bombay Stock Exchange today and recovered smartly, pushing the benchmark up by 25.05 points to end at 3314.60.

Index-based shares such as BHEL, RIL, Bajaj Auto, BSES, HCL Technologies, HDFC, Infosys Technologies, L&T and Satyam Computer notched handsome gains and mainly contributed to the Sensex rise.

Foreign institutional investors, who bought shares worth Rs. 685 crores in the current month, reportedly purchased key old-economy stocks.

Yesterday's battered banking shares also bounced back on fresh buying and ended with sharp to moderate gains on fresh buying.

Other securities in the power and power equipment sector, such as BSES, Tata Power, ABB, BHEL, Siemens and Alstom Power also attracted good investment buying, a dealer said.

The BSE-30 share sensitive index opened steady at 3289.36 against yesterday's close of 3289.55 and immediately touched a low of 3287.72.

Later, it rallied to a high of 3327.61 before concluding at 3314.60.

The broad-based BSE-100 index also moved up by 15.53 points to 1682.24.

Positive advices from Wall Street also aided the uptrend in select technology scrips. The Dow Jones Industrial Average and the tech-heavy Nasdaq Composite Index rose by nearly 75 points and 24 points respectively yesterday.

In the specified group, 117 including 19 index-based shares registered marked to moderate gains while 78 others finished with losses.The BSE-200 and the Dollex-200 were quoted higher at 416.83 and 148.51 against 413.14 and 146.91 respectively. — PTI

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