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Sensex

Backed by heavy purchases from foreign and domestic funds, infotech, telecom and media shares staged an impressive rally on the Bombay Stock Exchange, pushing the 30-share Sensex up by over 122 points or 2.58 per cent, amidst volatile trading today.

Although the rally was confined to the three sectors, select pharma and commodity stocks also hit the upward limit of circuit filters on sustained buying support from market players today, the first day of the current weekly settlement, dealers said.

ACC, MTNL, Pentafour Software, DSQ Software, Infosys Technologies, Himachal Futuristic, Hindustan Lever, Zee Telefilms, Rolta, Global Telesystems recorded 8 per cent gains by hitting the circuit filters, they said.

Reflecting the bullish trend, the 30-share BSE Sensex opened higher, scaled further high to touch the day's high of 4842.34 points, fell below the 4800 mark by touching day's low of 4785.06 points, before closing at 4835.98 points, showing a net gain of 122 points as against the previous close.

The broad-based BSE-100 index also rose sharply by 65.61 points at 2363.89 points as against the previous close of 2298.28 points.

Business volume on the BSE remained high throughout the day while the undercurrent too was firm, leading BSE brokers said. They foresee a market that may go up further by at least 100 points tomorrow.

The FIIs have made net investment on the Indian bourses to the tune of Rs 2.78 billion last week, following the safe passage of insurance bill and derivatives bill and are now hopeful of speedy clearance of other pending economic legislations in the coming days, dealers said.

UNI

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