The Hindu : Sensex stages recovery on heavy buying

Online edition of India's National Newspaper
Friday, Jul 04, 2003

Business

Business

Sensex stages recovery on heavy buying

MUMBAI JULY 3. Led by pharma shares, prices recovered smartly on the Bombay Stock Exchange today on emergence of heavy buying by bull operators along with foreign institutional investors and closed with sharp gains, pushing the Sensex up by an impressive 38 points.

The market opened on a firm note and continued to rally and apart from pharma shares, the IT sector and old economy scrips also rallied on heavy support. The rally in pharma shares was spearheaded by Ranbaxy, Dr. Reddy's and Cpila.

Bull operators were also active in buying some of the heavy-weighted stocks such as Infosys Technologies, Satyam Computer, HCL Technologies, RIL, HLL and Grasim.

Sentiment was also boosted by a sharp rise in the Dow Jones Industrial Average and Nasdaq Composite Index which closed higher by 96.85 points and 32.5 points respectively yesterday.

The total turnover rose further to Rs. 1,804.28 crores from Rs. 1,429.13 crores.

Infosys were on top with a turnover of Rs. 232.12 crores, followed by Satyam Computer Rs. 116.94 crores, Reliacne Rs. 101.12 crores, SBI Rs. 83.73 crores and Bank of Baroda Rs. 67.39 crores.

The BSE-30 share sensitive index opened higher at 3616.98 and rose further to close at 3639.89, showing a smart rise of 38.50 points over the previous close of 3601.39.

The broad-based BSE-100 index improved by 18.80 points to 1835.65, while the BSE-200 edged up to 456.98 from 452.12 and the BSE-500 firmed up to 1393.16 from 1377.74.

— PTI

Printer friendly page
Send this article to Friends by E-Mail

Business