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This is an archive article published on June 13, 1998

Sensex recovers further

MUMBAI, June 12: Equities could not sustain initial recovery despite hectic buying support from domestic institutional investors and general...

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MUMBAI, June 12: Equities could not sustain initial recovery despite hectic buying support from domestic institutional investors and general investors on last day of current settlement in the Bombay Stock ExchangeBSE today.

The market players Foreign Institutional Investors FIIs continued with its selling spree due to depreciation in the Indian currency in the interbank foreign exchange and turmoil in the Asian market demoralised the sentiment of investors, leading brokers said. Mirroring the uptrend, the BSE sensitive index opened higher at 3367.49 points improved further on hectic buying support from local institutions and crossed 3400-mark in the intra-day trading to 3416.12 points.

At the fag end bull operators sold sizeable amount of blue to chips to square up their position which drifted lower the sensex to 3332.63 points before closing at 3347.41 points showing a net gain of 11.65 points as against the previous close of 3335.76 points. The BSE-200 and Dollex indices gained by 01.26 and 01.80points to 334.10 and 132.56 points as compared to last working day8217;s close of 332.84 and 130.76 points respectively.

Meanwhile on the NSE, pivotals after moving in a narrow range firmed up as the market sentiment improved today. Reflecting the mood, the NSE-50 increased by 9.80 points to 971.15 points as against 961.35 points of the previous day. The Dollar NSE-50 also moved up by 13.20 points to 800.65. The Midcap advanced by 15.65 points to 1352.00 point as compared to 1336.35 points of the previous day. The total turnover involving 549.62 lakh shares in 1,93,989 trades was Rs 1394.85 crore.

 

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