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Pivotals stage smart rally, Sensex up 89 points

Pivotals staged a smart rally on the Bombay Stock Exchange on the first day of weekly trading cycle, following renewed buying support from foreign institutional investors, domestic institutional investors and local operators sending up the Sensex by 89 points today.

As political uncertainty ended with the All India Anna Dravida Munnetra Kazhagam's decision to continue its support to the BJP-led coalition government, market sentiment improved on the country's premier bourse.

The foreign funds reportedly made heavy buying in the heavyweights like State Bank of India, ITC, Castrol and some others. The domestic institutional investors too bought considerable amount of shares of blue chip companies.

Reflecting the bullish phase, the BSE Sensex opened at 3111.02 (day's low) touched the day's high of 3179.63 points and ended at 3178.31 points, showing a net gain of 89.29 points against the Friday's close of 3178.31 points.

Among the major gainers, cement giant ACC moved up by Rs 85.50 to Rs 1238.50, Bajaj Auto gained by Rs 18 to Rs 565.25, Hindustan Lever up by Rs 15.15 to Rs 1532.50, ITC firmed up by Rs 31.50 to Rs 650.50, L&T up by Rs 6 to Rs 218.30, Mahindra and Mahindra up by Rs 2.60 to Rs 203.20, Reliance gained by Rs 6 to Rs 144, State Bank of India gained by Rs 10.70 to Rs 209, Telco gained by Rs 9.60 to Rs 168.60 and Tisco gained by Rs 4.80 to Rs 124.

The broad-based BSE-100 index gained smartly by 39.58 points to 1395.28 points against the previous close of 1355.70 points. The BSE-200 and Dollex indices closed higher by 8.75 and 3.52 points at 317.76 and 124.60 points against the previous close of 309.01 and 121.08 points respectively.

According to marketmen, the firm trend in GDR market also was one of the reasons behind the bullish phase on the Indian bourses. Total turnover on the screen-based trading system was Rs 62.87 billion.

ITC clocked the highest business volume at Rs 1.43 billion, followed by Satyam Computer Rs 999.7 million, State Bank of India (Rs 502.3 million), Castrol (Rs 499.6 million), Reliance (Rs Rs 453.6 million), Zee Telefilms (Rs 392.3 million), Pentafour (Rs 268.1 million), Tata Tea (Rs 143.9 million), Infosys Technology (Rs 134 million), Hindustan Lever (Rs 131 million), Telco (Rs 126.3 million), ACC (Rs 81.8 million), Bajaj Auto (Rs 63.1 million), Tisco (Rs 54.2 million) and L&T (Rs 53.1 million).

UNI

UNI