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Saturday, November 7, 1998

Sensex recovers 42 pts

ENS ECONOMIC BUREAU  
MUMBAI, NOV 6: Select pivotals led by Reliance, ITC, ACC etc recovered further on the Bombay Stock Exchange (BSE) today on speculative support coupled with institutional buying. The Sensex gained 42 points. The closing rates showed widespread small to modest gains. The volume of business expanded. The closing undertone remained better.

The BSE sensitive index opened at 2849.58, touched the day's high of 2885.75 points, fell to the day's low of 2849.58 before closing at 2884.37, showing a net gain of 41.86 points from the previous close of 2842.51. The BSE-100 Index advanced by 15.25 points to 1283.22 as against the previous close of 1267.97.

Marketmen said that today being the last session for current settlement most of the local operators have covered their outstanding position. The volume of business spurted sharply to Rs 1135.17 crore from yesterday's turnover of Rs 813.04 crore. RIL clocked the highest turnover of Rs 157.47 crore and the scrip shot up by Rs 8.30 to Rs 119.60 on speculative support.ITC gained Rs 5.50 at Rs 705, SBI Rs 2.90 at Rs 155.20 and Telco Rs 5.20 at Rs 126.90 but Pentafour Software dipped by Rs 37.75 to Rs 582, Satyam Computer by Rs 9 to Rs 575.75 and Hindustan Lever Rs 13.25 to Rs 1636 on selling pressure.

On the National Stock Exchange (NSE), positive sentiment continued and share prices further moved up on renewed buying from bull operators and foreign financial institutions(FIIs). The S&P CNX Nifty index gained by 11.65 points to 840.80 from 829.15 of the previous day. The total turnover, was Rs 1,295.08 crore.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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