New Delhi, Jan 3: The Delhi Stock Exchange index soared to close 68.87 points, or nerly 7 per cent higher at 1046.61 points on the first session of the new millennium on Monday, shares notched up significant gains after FIs and punters made widespread purchases.Marketmen said reports that Indian bourses including DSE and financial institutions all successfully rolled over to 2000 without Y2K problems mainly buoyed the sentiments.
They said with fears over Y2K computer bug having receded, foreign institutional investors (FIIs), after remaining on the sideline, turned active and indulged in creating huge positions, particularly in software, computer and other blue-chip companies stocks, having strong fundamentals.
Resolving of the hijacking crisis was another factor which fuelled current bull-run, they added. The sentiments remained extremely bullish and majority of stocks were locked at higher end after exhausting daily price limit of 8 per cent.
``The market was flooded with buyers. It was difficult tofind sellers even at prevailing record levels'', said Rajiv malik, a dse stock broker.
``Today's rally was widespread, even several B-group stockswere freezed,'' said another stock broker.
Amongst top gainers in the information technology sector were Infosys Technologies, Satyam Computer, Silverline Industries, Pentafour Software, SSI, Aptech Ltd, NIIT Ltd, Rolta India, Digital Equipment, KLG Systel, IEC Software, HCL Infosystems, Global Telesystems and Himachal Futuristic, and all were all locked at higher end after exhausting daily price limit of 8 per cent.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.