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February 16, 1998

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BSE Sensitive Index

Sensex jumps 76.24 points

Share prices improved further on heavy buying support from foreign institutional investors on opening day of settlement in the Bombay Stock Exchange here on Monday.

Led by the Hindustan Lever Limited and ITC, sidelined equities gained marginally with the ITC registering the highest volume of 3 million shares whereas HLL recorded a volume of 1.1 million shares, leading brokers said.

Mirroring the uptrend, the BSE Sensitive index (100 scrips) opened higher at 3384.71 points, on good purchase made by the FIIs and bull operators. It went up to 3451.63 points during midtrading as domestic institutions sold sizeable amount of bluechips, which drifted the Sensex lower to 3384.71 points before it recovered and closed at 3449.77 points, showing a net gain of 76.24 points as against the previous close of 3373.53 points.

The BSE National index rose further by 33.92 points to 1483.15 points over the last working day's close of 1449.23 points.

The BSE-200 and Dollex indices also increased by 07.77 and 03.22 points to 328.70 and 140.93 points as compared to previous close of 320.93 and 137.71 points respectively.

The volume of business gained smartly, brokers said, and added that due to the election fever, the domestic institutions have adopted the role of wait-and-watch, whereas, FIIs have shown confidence in the Indian capital. Despite the country's elections, they continued to invest in the Indian capital market, brokers said.

The total turnover rose to Rs 9.4 billion from Rs 9 billion on the last working day.

ITC registered highest turnover of Rs 1.95 billion followed by Hindustan Lever Rs 1.9 billion, Tata Tea Rs 1.3 billion Castrol India Rs 814 million, Reliance Rs 554.9 million, SBI Rs 441,5 million, Ponds India Rs 212.6 million, Bajaj Auto Rs 207.8 million, TELCO Rs 201.8, Nestle Rs 119.3 million L and T Rs 94.2 million, TISCO Rs 84.7 million, ACC Rs 82.6 million, MTNL Rs 81.9 million, and Glaxo India Rs.75.8 million.

Good transactions were observed at Corporation Bank (Rs 118.2 million), LML Ltd (Rs.42.6 million), Thiru Aroora (Rs.28.2 million), Hind Lever Ch (15.3 million), HICO (Rs.14.7 million), in B1 counters.

UNI

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