Sensex up 93 points

MUMBAI, MARCH 28. Sustained heavy buying by foreign funds and domestic institutions ensured a broad-based rise in share values on the Bombay Stock Exchange today and pushed up the Sensex by a further 93.39 points to close at 3788.21.

All segments recorded sharp to moderate gains with old economy shares particularly in the limelight, notching up handsome gains while new economy scrips also ruled firm, although they surrendered early smart gains on profit-selling.

On the back of strong overseas advices, sentiment turned remarkably positive here at the local bourse following the smart rally in New York. The Dow Jones industrial average and the Nasdaq composite index surged by about 260 points and 54 points respectively yesterday.

A steep advance in heavy weighted blue-chips such as Hindustan Lever, Reliance Industries, ITC and HPCL changed the bearish scenario and helped the Sensex extend the overnight rally. A recovery in index-based pharma shares such as Cipla, Dr. Reddy and Ranbaxy also partly contributed to the Sensex gain, dealers said.

The BSE-30 share sensitive index opened on a firm note at 3736.54, which happened to be the day's low, and gradually moved up further to a high of 3792.76 before closing at 3788.21 against yesterday's close of 3694.82, a sharp rise of 2.53 per cent.

- PTI

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Section  : Business
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