Select shares move up on BSE

MUMBAI, JAN. 14. Equities, particularly select heavy weighted shares, staged a dramatic recovery at the fag end aiding the Sensex to close with a moderate gain of about 27 points on the Bombay Stock Exchange here today on good shortcovering by speculators and sizable buying by Calcutta operators.

Foreign institutional investors and financial institutions also were selective buyers and reportedly made purchases in key scrips such as SSI, Infosys, Satyam Computer, Sun Pharma, Wockhardt, Glaxo, Smithkline Pharma and a few others.

The BSE sensitive index opened better at 5460.31 and later moved erratically in the range of 5476.38 and 5344.59 before closing at 5471.27 against yesterday's close of 5444.78, netting a gain of 26.45 points. The BSE-100 index edged up by 3.89 points to 2749.12 from 2745.23.

With the last day of the current settlement, punters resorted to unloading in a bid to square up positions during the session. However, the market saw a turnaround in the last half hour as Calcutta operators took up fresh positions following reports of very low badla of about 24 to 27 per cent on the Calcutta Stock Exchange.

L&T which had been hammered down to a low of Rs. 417.30, later found heavy support and was quoted at a high of Rs. 466 before closing at Rs. 463.

- PTI

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Section  : Business
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