Business   

Pivotals stage recovery

MUMBAI JAN. 31. Led by Reliance Industries, blue chips made a strong turnaround after a weak start and posted handsome gains aiding the Sensex to end 30 points higher on the Stock Exchange Mumbai today on hectic buying prompted by better-than-expected Q3 results by RIL.

The Reserve Bank of India Governor, Bimal Jalan's statement that escalation in international crude prices over the threat of a U.S.-led attack on Iraq will have a marginal impact on India's inflation also had positive impact on the market.

After touching the day's low at 3199.18 the BSE benchmark 30-share index recovered its losses and rallied smartly to end at 3250.38 against yesterday's close of 3219.88, netting a rise of 30.50 points.

The technology sector discounted a sharp slide on Wall Street yesterday and rallied smartly on fresh buying by investors. The Dow Jones Industrial Average and the Nasdaq Composite Index dipped by 165.58 points and 35.71 points respectively yesterday.

In the specified group, 83 including 19 index-based counters registered sharp to moderate gains while 112 others finished with losses.

The volume of business was relatively low at Rs. 1,368.96 crores against Rs. 1,465.37 crores. Digital Global were the most active scrip with the highest turnover of Rs. 187.05 crores followed by RIL (Rs. 156.09 crores) and Satyam Computer (Rs. 145.10 crores). — PTI

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• RIL profit zooms in Apr.-Dec.
• Multi-Commodity Exchange starts operations
• Disinvestment — where flexibility is a virtue
• History of SBI third volume released
• Nedungadi Bank to function as PNB
• Sharp rise in ICICI Bank profit
• IOB profit up
• Sundram Fasteners sales up
• TVS Electronics profit up
• Rupee rules steady
• Govt. aware of leather sector issues
• Current a/c surplus, currency valuation lead to forex upsurge
• Pivotals stage recovery
• Stock Market Index
• Exchange rates
• Bullion rates

Copyright © 2003, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu