BUSINESS

Heavy buying in RIL, HLL

MUMBAI DEC. 4. The Sensex ended moderately higher by four points reflecting gains in top heavyweights Reliance Industries and Hindustan Lever on Bombay Stock Exchange here on Thursday on selective buying by institutional investors and operators.

Both RIL and HLL attracted heavy buying and helped the Sensex to close in positive territory.The BSE benchmark 30-share index opened on a promising note at 5229.18 and later fluctuated in a range between 5252.21 and 5174.86 in keeping with erratic movements, before ending at 5225.90 against the previous close of 5221.90, a net gain of four points.

Investors seemed to be little cautious ahead of results of four assembly elections even as the BJP was leading in three states including Madhya Pradesh and Rajasthan.The market continued to witness scrip-specific activity in spite of continuous flow of funds couple with strong economic fundamentals.

Though foreign institutional investors slowed down activity during the session, they were the principal driving force behind the market, with heavy net investments of Rs. 849 crores in the first two sessions of the week.The broadbased BSE-100 index rose by 17.38 points to 2683.56.

Some of the pharma and public sector enterprises (PSEs) stocks continued to be in good demand on good buying support from FIIs while select banking and cement scrips suffered a setback on profit-selling. — PTI

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