The Hindu : All round buying pushes up Sensex

Online edition of India's National Newspaper
Thursday, Jun 06, 2002

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All round buying pushes up Sensex

MUMBAI JUNE 5. All round buying by speculators as well as institutional investors lifted the Sensex by another 63.92 points to close at 3255.52 today on the Bombay Stock Exchange that registered a three-day string of profits. Dealers attributed the smart rally to reducing fears of war between India and Pakistan that triggered fresh wave of buying from speculators as well as retail investors.

A sharp spurt in Sensex could be gauged by a smart rise in 27 out of 30 index-based scrips. Old economy shares including index heavyweights such as Hindustan Lever, Reliance Industries, BHEL, ITC, MTNL, Telco, Tisco and Grasim continued their northward journey aiding the Sensex rise.

The recently battered IT counters also attracted good buying support in view of marginal recovery in the Nasdaq Composite Index that rose by 15.56 points yesterday.

The BSE-30 share sensitive index opened firm at 3200.71, which was also the day's low, and gradually moved upwards to the intra-day high of 3269.24 before concluding at 3255.52 against 3191.60, a rise of 2 per cent. The broad-based BSE-100 index also improved further by 24.49 points to 1654.60 from 1630.11. — PTI

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