The Hindu : HLL leads fresh rally, Sensex up 34 points

Online edition of India's National Newspaper
Tuesday, Jun 10, 2003

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HLL leads fresh rally, Sensex up 34 points

MUMBAI JUNE 9. Led by Hindustan Lever, select old economy stocks continued their upward march aiding the Sensex to end 34 points higher on the Bombay Stock Exchange here today on reports of the monsoon hitting Kerala and sustained investments by foreign funds.

Retail investors and speculators welcomed the news of arrival of the southwest monsoon that hit Kerala on Sunday by enlarging commitments in several counters while foreign institutional investors, who have been making heavy net purchases since the past couple of weeks, reportedly made fresh investments in key stocks.

The BSE benchmark 30-share index opened on a promising note at 3304.65 and gradually moved upwards to the intra-day high of 3351.36 before ending at 3337.31 against last Friday's close of 3303.24, a net gain of 34.07 points or 1.03 per cent. The broad-based BSE-100 index moved up by 6.19 points to nearly one-year high of 1697.95.

Bulls tightened their grip on the market as Kerala recorded fairly good rainfall on June 8 indicating normal monsoon delay which had caused some concern in the markets during last week. Heavyweight counters such as HLL, ACC, BHEL, BSES, CIPLA, HDFC, HPCL, Castrol, Hero Honda, Hindalco, ITC, L&T, Ranbaxy and Telco showed sharp gains on heavy buying support. However, RIL, SBI, Satyam, Dr. Reddy's Lab, Tisco and Zee Telefilms finished with marked falls due to profit booking by local funds. — PTI

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