The Hindu : Pivotals stage rally

Online edition of India's National Newspaper
Wednesday, Dec 11, 2002

Business

Business

Pivotals stage rally

MUMBAI DEC. 10. After a weak start, blue chip stocks recovered smartly and a few even posted handsome gains aiding the Sensex to end 20 points up on the Bombay Stock Exchange today on late buying support on the back of selective purchases by foreign institutional investors.

Several second-line counters too rallied smartly on fairly good support from operators and domestic funds.

Well supported by the late rally, the BSE benchmark 30-share index that had fallen to the intra-day low of 3241.40 during the early part of the session, later rallied sharply to end at 3289.68 against yesterday's close of 3269.31, netting a rise of 20.37 points.

The broad-based BSE-100 index also improved by 11.24 points to 1616.87 from 1605.63.

The FIIs, who were believed to be sellers at early stages, reportedly made hectic purchases in heavyweight stocks such as HLL, ITC, Satyam Computer, RIL and some others.

The news after the trading session that the Disinvestment Commission had begun preliminary work on submitting proposals for off-loading Government equity in as many as 12 public sector enterprises including telecom majors BSNL and MTNL is likely to have positive impact on the market tomorrow.

The BSE-200 and the Dollex-200 were quoted up at 384.98 and 133.01 against 382.59 and 132.10 respectively.

The BSE-500 also moved up by 6.66 points to 1148.28 from 1141.62 and the Dollex-30 to 560.45 from 556.64.

PTI

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