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This is an archive article published on April 2, 2005

Bulls return: Sensex up 112 points

The bull bandwagon gathered steam on Friday, the first day of the financial year 2005-06. With buyers returning to the market with renewed v...

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The bull bandwagon gathered steam on Friday, the first day of the financial year 2005-06. With buyers returning to the market with renewed vigour, the Sensex spurted by over 100 points for the second straight session.

While the buying was broad-based, metals and automobile stocks were in the limelight. Down nearly 25 points in early trades, the 30-share BSE Sensex eventually ended with another solid gain of 112.22 points, or 1.73 per cent, at 6,605.04.

From its Wednesday’s low of 6,321.31 touched in intra-day trades on Wednesday, the Sensex has already recovered 283.73 points so far. Prior to that, the index had fallen by over 590 points since March 9.

After a 111-point spurt in the Sensex on Thursday, the market displayed some volatility in early trades on Friday. “However, gains resumed in the mid-morning lifting the market steadily for the rest of the session. Funds have resumed their purchases. The market is expecting good corporate results next week,” said NSE dealer Pradip Bhavnani.

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