MUMBAI, OCT 12: Select pivotals led by cement and others rallied on the Bombay Stock Exchange (BSE) today on sustained buying support from foreign funds. However, share prices generally moved narrowly amidst alternative bouts of buying and selling on the last day of the current settlement on the National Stock Exchange (NSE).Sensex (30-share BSE sensitive index) moved in the range between 5076.94 and 5022.87 before closing at 5057.32, showing a net gain of 25.54 points from the previous close of 5031.78. The BSE-100 index also advanced by 23.92 points to 2377.94 from the previous close of 2354.02.
Brokers said the euphoria over the BJP led alliance's return to power continued with bull operators and FIIs creating huge positions ahead of the formation of the new government. The market will now watch allocation of portfolios, particularly finance, in the new government.
After a better spell, several counters witnessed profit-taking due to squaring up of positions. Expecting a rise in cement pricesfollowing revival of the economy in the near future, cement stocks attracted fresh support.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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