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Rally in HPCL, RIL, Telco lifts Sensex

MUMBAI DEC. 13. Led by HPCL, select heavyweight counters rallied smartly aiding the Sensex to extend its gains to fourth straight session on the Bombay Stock Exchange today on fresh buying prompted by hopes of early decision on HPCL sell-off and exit polls predicting victory for BJP in Gujarat.

PSE stocks such as HCPL, BPCL, BEML, Nalco, CCI and few others were in keen demand on reports about a likely meeting of the Cabinet Committee on Disinvestment to decide on eligibility of bidders and quantum of Government stake to be shed from HPCL, indicating early decision on the strategic sell-off.

Investors' morale also seemed to be boosted following prediction of BJP gaining majority in Gujarat Assembly elections, by exit polls commissioned by two leading TV networks, brokers said. The BSE benchmark 30-share index opened on a firm note at 3335.28 and later rallied further to the intra-day high at 3349.94 before ending at 3342.97 against yesterday's close of 3324.48, netting a gain of 18.49 points or 0.56 per cent. The broad-based BSE-100 index also improved further by 15.23 points to 1647.47 from the previous close of 1632.24. Old economy heavyweights RIL, Telco, Tisco, ITC, Satyam, BHEL, BSES, GACL and ICICI Bank also scored impressive gains.

PTI

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