The Hindu : RIL leads rally in Sensex

Online edition of India's National Newspaper
Saturday, Aug 23, 2003

Business

Business

RIL leads rally in Sensex

MUMBAI AUG. 22. Led by Reliance Industries, select blue chip stocks surged ahead to a strong finish aiding the Sensex to end 30 points higher in volatile activity on the Bombay Stock Exchange today on sustained buying by speculators on the back of increased net investments by foreign institutional investors.

RIL hogged the limelight closing sharply up on heavy purchases by FIIs who have stepped their activity in the past few sessions and made net investments of Rs. 463 crores in the first three sessions of the week.

The BSE benchmark 30-share index opened sharply higher at 4146.56 and later fluctuated erratically between 4149.54 and 4084.19 before ending at 4125.12 against 4095.39, a net gain of 29.73 points. The broad-based BSE-100 index firmed up by 24.99 points to 2138.68.

The market was driven higher due to aggressive purchases by speculators and foreign funds, brokers said adding that investors, however, seemed to be cautious having burnt their fingers in stocks boom in the past and booked profits at higher price levels.

Key shares such as BHEL, Cipla, BSES, Hero Honda, HPCL, ITC, Glaxo, L&T, MTNL, Ranbaxy and Tisco were the sharp gainers. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business