The Hindu : Bank shares in limelight

Online edition of India's National Newspaper
Thursday, Feb 20, 2003

Business

Business

Bank shares in limelight

MUMBAI FEB. 19. The Sensex ended in the positive territory for the third straight session backed by a marked rally in select old economy stocks on the Bombay Stock Exchange today on fresh buying support by speculators and retail investors.

However, domestic funds led by Unit Trust of India, which seemed to be keen on booking profits at higher levels, resorted to selling in IT counters at higher levels and prevented any major pre-budget rally on the bourses. Bank shares stole the limelight on fresh buying by operators and institutional investors.

Attempting a mild rally after a firm start at 3303.09, the BSE benchmark later fluctuated in an extremely narrow range between 3317.80 and 3300.85 before finishing at 3302.04 against yesterday's close of 3289.09, netting a gain of 12.95 points.

The broad-based BSE-100 index improved by 7.92 points to 1635.54 from 1627.62.

Brokers said the market was resilient despite adverse news of a sharp spurt in world oil prices and even the possibility of U.S.-led war in Iraq. — PTI

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