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January 19, 1998

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BSE Sensitive Index

A smart rally by Hong Kong's Hang Seng index and Tokyo's 225-issue Nikkei stock average bolstered buying sentiments at the Bombay Stock Exchange today, aiding the Sensex to rise impressively by 98.54 points.

The BSE-30 Sensitive index opened at 3383.89 points, witnessed a high of 3484.77 points and a low of 3374.39 points, ending at 3480.86 points as against the previous close of 3382.32 points.

According to brokers, speculative buying in pivotals was witnessed with market players taking a long position in key scrips. Banking scrips attracted good demand from domestic institutions and brokers.

Foreign institutional investors were passive buyers in today's trading. According to marketmen, FIIs are keeping their fingers crossed on the fate of the rupee and the likely downgrading of the country's credit worthiness by international credit rating agencies.

The Hang Seng index gained 4.50 points, up by 404.87 points a few minutes after trading to 9304.91 points and the 225-issue Nikkei index gained by 1.69 per cent in the early hours of trading. The domino effect was reflected at the premier bourse helping the Sensex to register a sharp rise.

The BSE-100 index closed at 1516.66 points as against the previous close of 1477.70 points showing a net gain of 38.96 points. The BSE-200 index ended at 339.53 points as compared to Friday's close of 332.48 points, climbing 7.05 points. The Dollex index closed at 143.07 points as against the previous close of 137.15 points, showing a net gain of 5.92 points.

The total turnover was Rs 9.97 billion. The State Bank of India registered the highest turnover of Rs 2.7 billion followed by ITC (Rs 1.9 billion), Tata Tea (Rs 1.3 Billion), Castrol (Rs 791.9 million) and Reliance (Rs 751.6 million).

Good transaction was recorded at TELCO Rs 229.1 million), ACC (Rs 210.7 million), TISCO (Rs 175.2 million), MTNL (Rs 174.6 million), HLL (Rs 169.9 million), Bajaj Auto (Rs 140.5 million), L&T (Rs 119.2 million), ICICI (Rs 77.7 million), BHEL (Rs 74.1 million) and BSES (Rs 71.9 million) counters.

Hectic activity was recorded at Corporation Bank (Rs 203 million), Morepan (Rs 32 million), LML (Rs 21.6 million), ICICI Bank (Rs 21.1 million) and VSNL (Rs 20.1 million).

UNI

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