The Hindu : HPCL leads rally, Sensex up 15 points

Online edition of India's National Newspaper
Saturday, Dec 28, 2002

Business

Business

HPCL leads rally, Sensex up 15 points

MUMBAI DEC. 27. Led by oil major HPCL, select old-economy blue-chip counters registered smart gains, helping the Sensex to close up by 15.36 points at 3398.00 on the Bombay Stock Exchange today, extending the rally to the third consecutive session on the back of sustained buying.

Majority shares from the Public Sector Enterprises (PSEs) segment attracted good demand ahead of the Cabinet Committee on Disinvestment (CCD) meeting later today which intends to bring down the Government stake in HPCL to 15 per cent and BPCL to 26 per cent.

Cement and auto scrips were also in the limelight on renewed purchases by retail investors.

Meanwhile, petro-chem giant, RIL, ended lower on late profit-taking after the scrip attracted early buying support ahead of the launch of wireless in local loop (WLL) services.

The BSE-30 share sensitive index opened firm at 3393.58 and moved up to the day's high of 3413.83. Later it met with strong resistance and fell back to settle at 3398.00 as against yesterday's close of 3382.64.

The broad-based BSE-100 index also improved by 6.87 points to 1668.47 from previous close at 1661.60.

PTI

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