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This is an archive article published on January 3, 1998

Sensex up on FI buying

MUMBAI, Jan 2: Select scrips remained better on the BSE today on short covering and buying by financial institutions. After a firm spell, a ...

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MUMBAI, Jan 2: Select scrips remained better on the BSE today on short covering and buying by financial institutions. After a firm spell, a few scrips declined at the end on profit-taking in view of end-account considerations.The closing rates showed further small to modest gains.The volume of business remained below normal.The closing undertone appeared better.

The BSE sensitive index improved from the session’s low of 3701.40 to the inter-day high at 3739.38 and 3701.40 before finishing at 3719.85 with a net gain of 25.23 points compared to the previous level of 3694.62. The BSE-100 Index gained 9.10 points to 1614.28 from the previous level of 1605.18.

The volume of business was slightly better at Rs 636.78 crore. ITC remained on the top by recording highest turnover of Rs 130.95 crore, followed by Tata Tea at Rs 84.04 crore, SBI at Rs 71.25 crore, Reliance at Rs 45.09 crore and Telco at Rs 34.24 crore. ITC closed up at Rs 623.50 from previous close of Rs 623. Reliance gained a rupee at Rs 169.75 and SBI Rs 4 at Rs 249.75. On the NSE shares prices improved further moderately on increased buying.

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The NSE-50 index after a weak start at 1081.00, rose to 1091.30 and closed at 1086.20, showing a moderate gain of 5.00 over the last close of 1081.20.

The Defty also started lower at 954.60 but recovered to close at 957.90, revealing a rise of 2.85 from the last close of Rs. 955.05. The Midcap index started firm at 1207.55 and rose further to 1221.50.

Thereafter, it reacted to close at 1215.80, still showing a gain of Rs 8.40 over the previous close of 1207.40. The market showed a total turnover of Rs 864.62 crore.

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