The Hindu : Sensex recovers on fresh buying

Online edition of India's National Newspaper
Saturday, Aug 10, 2002

Business

Business

Sensex recovers on fresh buying

MUMBAI AUG. 9. Fresh low level buying helped the Sensex to recover by 26.25 points and close at 2976.34 on the Bombay Stock Exchange today.

Dealers attributed the recovery in share values to continued upsurge on Wall Street and good monsoon in several parts of the country.

Most of the buying activities were taken place in front-line as well as second-rung software counters which notched sharp to moderate gains following positive Wall Street advices.

The Dow Jones Industrial Average closed higher by 255.87 points yesterday, making it the third straight day gain to record a triple-digit profit and the tech-laden Nasdaq Composite Index spurted by 35.62 points.

Firm Southeast Asian markets also aided the uptrend as the Nikkei was up by 200.22 points and Hang Seng by 51.82 points at close today.

The BSE-30 share sensitive index opened sharply up at 2974.68 and moved irregularly in a range of 2982.51 and 2931.78 before ending at 2976.34 against 2950.09, a smart gain of 26.25 points. The BSE-100 index also improved by 15.34 points to 1508.93 from 1493.59.

Fast moving consumer goods (FMCG) giants, Hindustan Lever touched new 52-week low during trading but recovered part of initial losses to close just below the overnight level.

With the exception of Tata Finance, other Tata group of companies displayed signs of steadiness and finished in the positive terrain on fresh investment buying.

In the specified group, 119 including 25 index-based counters registered gains while 42 others closed with losses.

The BSE-200 and the Dollex-200 were quoted higher at 362.92 and 124.15 against 359.72 and 123.08 respectively. The BSE-500 also improved by 9.16 points to 1086.88 from 1077.72 and the Dollex-30 to 502.07 from 497.74.

The volume of business was relatively up at Rs. 1,189.85 crores against Rs. 1,011.34 crores.

Satyam Computer were the top traded counter with a turnover of Rs. 170.47 crores followed by Infosys Technologies (Rs. 94.02 crores), Mastek (Rs. 74.34 crores), Aftek Info (Rs. 70.90 crores) and RIL (Rs. 65.19 crores). — PTI

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