Cyclicals make further headway

MUMBAI, MARCH 22. Cyclicals and a few software shares made further headway lifting the benchmark index by another 69 points on the Bombay Stock Exchange on renewed speculative support from operators coupled with selective buying by institutional investors.

The rally this time was led by a continued upsurge in the Dow Jones industrial averages that gained further by 227 points and a turnaround in Nasdaq Composite Index which recovered by over 101 points last night.Economy scrips such as ACC, Bajaj Auto, BHEL, HPCL, L&T, M&M and some others recorded sharp to moderate gains.

The BSE sensitive index opened firm at 5204.07 and moved in a restricted range of 5247.28 and 5159.36 before closing at 5201.87 against yesterday's close of 5133.24, netting a moderate gain of 68.63 points or 1.34 per cent. The BSE-100 index recouped smartly by 65.62 points to 2910.44 from the previous close of 2844.22.

Revised trading hours on Friday

The Bombay Stock Exchange has reduced trading timings on March 24 in view of the function organised by the Federation of Indian Chambers of Commerce and Industry at the trading ring of the exchange to be addressed by the U.S. President, Mr. Bill Clinton.

The revised trading hours on Friday will be between 9.30 a.m. and 12.30 p.m. The carry-forward (badla) break up session of Friday will be held on Saturday from 9.30 a.m. to 11 a.m. and the normal weekly badla session will be held on Saturday from 1.30 p.m. to 6.15 p.m.

- PTI

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