Date:22/02/2006 URL: http://www.thehindu.com/2006/02/22/stories/2006022207661800.htm

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Sensex gains 89 points

MUMBAI: In highly volatile trading, the Bombay Stock Exchange Sensex on Tuesday shot up to a new peak of 10,195.51, surpassing the previous high of 10,195.42 and closed 88.81 points higher at 10,168.11 on heavy buying activity.

Trading activity remained volatile as operators indulged in heavy shortcovering ahead of the expiry of the February contract on Thursday in the futures market.

The BSE 30-share index opened firm at 10,108.16 against 10,079.30 and shot up to a new life-time intra-day high of 10,195.51. Later, it eased marginally and closed at 10,168.11.

Foreign institution investors who sold shares worth around Rs. 560 crore during the early part of last week, re-entered the market and made a net investment of Rs. 591.50 crore in the last two days of the previous week. Sentiment was also boosted by expectations of a market-friendly budget to be announced next week.

Though the index-heavyweights such as RIL and Infosys Technologies were in the red, smart rise in shares from automobile, healthcare, capital goods and metal segments helped the index close with handsome gains. — PTI