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Sensex gains 34.76 points

The FIIs bought sizeable number of Bajaj Auto, Mahanagar Telephone Nigam Limited and ITC shares, leading brokers said, and added that in non-specified group -- DCL Polyester has registered volume of 3.2 million shares and IndoRama Synthetic recorded 8.2 million shares.

Reflecting the uptrend, the BSE Sensitive index opened higher at 3414.59 points, due to short covering by the bear operators it gradually went up to 3446.52 points, then touched the day's low of 3411.75 points and finally finished at 3437.64 points, showing a net gain of 34.76 points as against the previous close of 3401.88 points.

The broadbased BSE National index also rose by 14.48 points to 1479.63 points over the last trading day's close of 1465.15 points. The BSE-200 and Dollex indices increased by 03.09 and 01.29 points to 327.76 and 140.39 points as compared to yesterday's close of 324.67 and 139.10 points respectively.

According to the marketmen, till the formation of new government, the market will fluctuate in the range of 20 to 30 points, as nobody wants to make fresh investment in the capital market. They are expecting some industrial package to boost the capital as well as economic situation of the country.

Domestic institutions continued with their selling pressure. During intraday trading, they started booking profit at higher level, which drifted lower the equity prices, but speculative and FIIs halted the downfall as they bought considerable amount of index based shares, the brokers added.

The total turnover was Rs 8.3 billion, involving 42.2 million shares in 75,316 trades. Out of 6,926 scrips a total number of 1,617 scrips were traded.

ITC registered the highest volume of business with Rs 2.9 billion, followed by Tata Tea Rs 1.1 billion, Castrol Ind Rs 822.1 million, Reliance Rs 649.5 million, Hind Lever Rs 409.3 million, MTNL Rs 267.3 million, Bajaj Auto Rs 223.3 million, SBI Rs 209.8 million, TELCO Rs 147.2 million, Nestle Rs 89 million, M and M Rs 55.5 million, Sesa Goa Rs 52.8 million, Hind Petrol Rs 48.2 million and ACC Rs 4.57 million in specified counters.

A good transaction was observed at Corporation Bank (Rs 92.4 million), Indo Rama Syn (Rs 77.1 million), LML (Rs 71.2 million), NIIT (Rs 40.6 million), Him Fut Comm (Rs 27.3 million), Bata Ind (Rs 22 million), Godfrey Phil (Rs 19.5 million) and Reliance Pet (Rs 9.3 million) at 'B1' counters.

UNI