Pivotals remain buoyant

MUMBAI, Sept 7: Share prices rallied on the Bombay Stock Exchange BSE today on emergence of speculative support coupled with fresh buyi...

MUMBAI, Sept 7: Share prices rallied on the Bombay Stock Exchange BSE today on emergence of speculative support coupled with fresh buying support extended by foreign funds. Sensex spurted by 77 points.

The new account started better following uptrend in the Asian markets. The BSE sensitive index Sensex opened at 3016.51 and moved between 3063.52 and 3016.51 before finishing at 3051.83 with a handsome gain of 76.83 points compared to the previous level of 2975.10. The BSE-100 index ended at 1356.37 as against the last close of 1323.25 points, showing a rise of 33.12 points.

Brokers said the sentiment improved further mainly on fresh support extended by FIIs and local buying following the start of the new account and lower badla charges. The buoyancy in South-east Asian stock markets further boosted the operators8217; confidence. FIIs picked up good quantity of shares like Larsen, SBI, Tata Tea, Zee Telefilms, IPCL, Hindustan Lever and others. Domestic institutions sold small lots of shares like Bata, Reliance, SBI, GNFC and others.

The volume of business was fairly good at Rs 1233.76 crore. ITC was the most active scrip with a turnover of Rs 173.26 crore. ITC, however, remained easy on selling with a loss of Rs 5.75 at Rs 657. SBI spurted by Rs 13 to Rs 201.70, Reliance by Rs 2.30 to Rs 116.90,Telco by Rs 6.10 to Rs 138.70, Tisco by Rs 4.45 to Rs 92.40, Satyam Computer by Rs 16.75 to Rs 492 and Zee Telefilms by Rs 44.50 to Rs 601.25.

On the National Stock Exchange NSE, pivotals rose further on good buying activity and closed with smart gains. The Samp;P CNX Nifty opened at 866.90 and closed at 887.10, showing a rise of 20.60 over the previous close of 866.50. CNX nifty junior opened at 1468.50 and closed at 1485.05, with a good rise of 16.90 over the previous close of 1468.15.The total volume of business was Rs 1,357.11 crore. As many as 589 scrips advanced, 326 scrips declined and 96 scrips remained unchanged. Also 44 securities hit their price bands today.

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