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This is an archive article published on March 10, 1998

Bullish sentiment prevails

MUMBAI, MAR 9: Pivotals firmed up on the BSE today on speculative support on hope that a new Bharatiya Janata Party (BJP) led government wou...

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MUMBAI, MAR 9: Pivotals firmed up on the BSE today on speculative support on hope that a new Bharatiya Janata Party (BJP) led government would take charge this week putting an end to political uncertainity. The Sensex spurted by 99 points. The new account commenced on a firm note despite higher badla charges and select scrips led by ITC, Reliance, Hindustan Lever shot up further as the session progressed.. The volume of business remained brisk. The closing undertone appeared bullish.

The BSE sensitive index started at 3775.54, surpassed the psychological 3800 barrier, touched the day’s high of 3810.21, fell to a low of 3760.66 and later finished at 3807.21, showing a net gain of 98.63 points over the previous close of 3708.58. The BSE-110 index gained 42.22 points to finish at 1645.76 — up from the previous level of 1603.54. ITC remained the most active scrip with a turnover of Rs 343.49 crore of the total volume of business of Rs 1190.41 crore. Other active scrips were Reliance (Rs 250.83 crore), Tata Tea(Rs 94.60 crore), Bajaj Auto (Rs 65.13 crore) and SBI (Rs 62.65 crore). ITC spurted by Rs 20.50, Reliance Rs 15, SBI Rs 4, Telco Rs 7.10, Tata Steel Rs 4 and Hindustan Lever Rs 68.50 .

On the National Stock Exchange (NSE), pivotals gained smartly following good buying support from operators. The Nifty opened at 1081.95, touched the day’s high at 1100.40 and low at 1081.95, before closing at 1099.50 showing a net gain of 18.05 points against the previous close. The Midcap index registerd a gain of 20.95 points at 1252.10 points against the previous close. The total turnover was Rs 1591.00 crore.

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