Samvat 2056 ends on better note

MUMBAI, OCT. 25. Samvat 2056 ended on a better note as stocks overcame early resistance and later rallied smartly lifting the Sensex by about 92 points on the Bombay Stock Exchange today on fresh buying support from speculators on the back of selective purchases by foreign institutional investors.

Speculators, who were disappointed over the decision to introduce rolling settlement in group `A' , and had been unloading their positions, took heart in making fresh commitments as the market moving factor FIIs reportedly made good purchases in select IT shares such as Digital Equipment, Wipro, SSI and few others.

Revival of support from FIIs, dealers said, which had been net sellers since last several settlement periods, helped boost investors' morale to a large extent. Bears were forced to cover their short positions on the last day of the current settlement.

The BSE sensitive index opened marginally down at 3644.11 but later made a turnaround rising sharply to the day's high of 3748.96 before closing at 3743.61 against yesterday's close of 3651.99, showing a net rise of 91.62 points or 2.51 per cent. The BSE-100 index also spurted by 55.63 points to 1910.99 from 1855.36.

- PTI

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Section  : Business
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