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Friday, June 26, 1998

Sensex gains 65 points more

ENS ECONOMIC BUREAU  
MUMBAI, June 25: Pivotals recovered further on the Bombay Stock Exchange (BSE) with Sensex breaking the psychological barrier of 3200-mark with further gain of another 65 points. The market rallied mainly on news that the buy-back of shares would be allowed. Led by the software shares, trend improved as the session progressed mainly on buying by the local operators and institutions.

The BSE sensitive index opened higher at 3197.90, touched the day's high of 3249.42, before closing at 3208.54, with a net gain of 64.90 points over the previous close of 3143.64. The BSE-100 gained 31.87 points to 1406.75 from the previous level of 1374.88.

Brokers said there was good buying support witnessed in the software shares. The domestic institutions led by the UTI and others made limited purchases in select scrips. The sentiments also improved due to the recovery in rupee's value against the dollar at the forex market. Foreign funds too picked up shares of a select software companies and Nestle, Proctor & Gambleetc.

Meanwhile on the NSE, pivotals firmed up further following good buying support from local operators and institutional investors. Mirroring the uptrend, the NSE-50 (Nifty) opened on a firm note at 908.65, touched the day's high of 939.15 points, and registered a smart increase of 23.65 points to 932.15 points against the previous close of 908.6 18.70 points to 756.45 points against the previous close of 737.75 points while Midcap rallied by 46.20 points and closed at 1338.65 points against the previous close of 1292.45 points.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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