Sensex spurts 118 points

MUMBAI, Aug 4: The sentiment turned bullish on the Bombay Stock Exchange (BSE) today pushing the Sensex up by 118 points during a single tr...

MUMBAI, Aug 4: The sentiment turned bullish on the Bombay Stock Exchange (BSE) today pushing the Sensex up by 118 points during a single trading session. The new account started better manly due to lower badla charges and pivotals led by Castrol, SBI, ITC, Tata Tea and others moved up further as the session progressed.

The closing rates showed modest to sizeable gains. The BSE sensitive index opened at 4392.47 and touched a high of 4478.19 but declined to close at 4465.37, with a net gain of 118.05 over the previous close of 4347.32. The BSE-100 shot up by 53.94 to 1945.84 from the last close of 1891.90.

Brokers said the sentiment was boosted mainly due to several pivotals entered into a no-delivery period resulting in sharp gains on heavy bear covering and speculative support. Foreign funds and local investors made fresh buying due to first day of the current settlement cycle. The lower carry-foward charges of around 15 per cent at the turn of the settlement also aided the sentiment.

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ITC was again the star performer recording a turnover of Rs 212.80 crore on the BSE and the Rs 695.70 crore on the National stock exchange (NSE) on heavy purchases by the foreign institutional investors (FIIs) and short covering. Castrol and Hindustan Lever flared up on rumours of bonus issue. The total turnover expanded to Rs 1179.39 crore, led by SBI with Rs 217.94 crore, ITC Rs 212.80 crore, Reliance Rs 155.85 crore, TISCO Rs 117.03 crore and Tata Tea Rs 65.62 crore.

On the NSE, share prices shot up sharply on hetic speculative buying and the NSE-50 index closed at 1250.40, showing a gain of 18.00. The Mid-cap index closed at 1353.75, displaying a smart rise of 23.20 points. The turnover was Rs 2,128.37 crore.

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