BUSINESS

Sensex zips past 4800 mark

MUMBAI OCT. 13. Riding piggyback on fresh bout of investor buying, stocks rallied sharply aiding the Sensex to extend its winning streak to straight eleventh session and end past the 4800-mark on the Stock Exchange, Mumbai, today.

Heavyweighted counters such as RIL, Infosys Technologies, Satyam Computer, Tata Motors, Tisco, HPCL, Grasim, SBI, ICICI Bank, L&T and Ranbaxy attracted keen demand and closed with sharp gains.

The BSE benchmark 30-share index opened strong at 4787.75 and later moved upwards to the intra-day high at 4859.93 before ending at 4849.27 against last Friday's close of 4768.97, netting a rise of 80.37 points or 1.69 per cent. The broad-based BSE-100 index firmed up by 50.69 points to 2503.10.

Foreign institutional investors who made a net investments of Rs. 1338 crores in the first four sessions of last week, were sustained buyers in several key counters. Operators and domestic funds were believed to have made fairly heavy purchases in a number of scrips including many second-line stocks.

Enthused over the flow of foreign investments, investors seemed to be confident that the BSE barometer would break the magic 5000-mark before the forthcoming Diwali festival on October 25.

However, some blue chip stocks such as Bajaj Auto, BHEL, BSES, Cipla, Dr. Reddy's, HDFC and MTNL recorded marked falls due to profit booking by some mutual funds.

In the specified group, 136 including 20 index-based counters registered gains while 59 others closed with losses.

The BSE-200 and the Dollex-200 were quoted higher at 620.45 and 227.78 against 607.85 and 223.01 respectively. The BSE-500 improved by 37.21 points to 1894.09 and the Dollex-30 to 877.89 from 862.77.

The volume of business was relatively low at Rs. 2396.45 crores against Rs. 2567.52 crores. Tisco were the most active share with a highest turnover of Rs. 202.46 crores followed by Satyam Computer (Rs. 162.71 crores), Infosys (Rs. 154.63 crores), RIL (Rs. 125.73 crores) and Tata Motors (Rs. 106.25 crores). — PTI

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