Date:22/02/2006 URL: http://www.thehindubusinessline.com/2006/02/22/stories/2006022203910100.htm

Back Fund buying lifts Sensex 88 points

Our Bureau

Mumbai , Feb. 21

PUTTING aside the bird flu scare, the stock markets continued their upward journey on Tuesday on short covering and fund buying, dealers said.

The BSE Sensex hit a new all-time high mid-way through the session to touch 10195.51, before settling to 10168.11 at close. This is an increase of 88.81 points from Monday's close. The previous all-time high was 10195.42.

The S&P CNX Nifty index closed at 3035.50, up by 29.65 points (0.99 per cent) from Monday.

It was a mixed trend for companies that would be adversely affected by the bird flu. Hatcheries major Venkys India's share prices fell by another 5.08 per cent on BSE to Rs 137.2. The Pune-based company's stock had dipped by 6.74 per cent on Monday. Srinivasa Hatcheries lost about five per cent on Tuesday to close at Rs 75.

However, SKM Egg Products shot up on Tuesday by 6.57 per cent to Rs 21.1, a reversal from Monday's decline of 12 per cent.

Hotel stock EIH India fell marginally by 1.34 per cent to Rs 668 on BSE while Indian Hotels was seen at Rs 1230.40.

Pharma stocks, which gained on expected sales of anti-flu drugs sales, rose further on Tuesday. Cipla Ltd closed at Rs 542.75, higher marginally by 0.33 per cent from Monday.