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Sensex stays bullish, up 64.90 points

According to market sources, the sentimental impact of the downgrading India's forex rating by Moody's services and the US sanctions seems to be over. The ban on short sales by the Securities and Exchange Board of India to arrest a further fall in share prices also set the market right.

Leading BSE brokers said that there was good buying support witnessed in the software shares. The foreign institutional investors still stayed away from active participation, while domestic players like Life Insurance Corporation, Unit Trust of India, and General Insurance Corporation made limited purchases in select scrips, they added.

Reflecting the firm trend, the 30-scrip BSE Sensex opened higher at 3197.90, surpassing the 3200 mark touched the day's high of 3249.42.42, touched the day's low of 3181.11, before closing at 3208.54 points, netting a gain of 64.90 points over the previous close of 3143.64 points.

The BSE Sensex has gained by 171 points during the last two consecutive trading sessions.

The BSE-100 index firmed up further by 31.87 points to 1406.75 points against the previous close of 1374.88 points. The BSE-200 and Dollex indices also gained smartly by 6.48 and 2.85 points to 320.86 and 125.40 points against the previous close of 314.38 and 122.55 points respectively.

Among the gainers, ACC gained by Rs 47 to Rs 1224.75, Bajaj Auto was up by Rs 19 to Rs 564.50, Hind Lever gained by Rs 15.25 to Rs 1482.75, ITC increased by Rs 2 to Rs 646.50, Larsen and Toubro rose by Rs 2.10 to Rs 222.50, Mahindra and Mahindra increased by Rs 3.10 to Rs 209, Telco gained by Re 0.70 to Rs 175 and Tisco shot up by Re 0.40 to Rs 126.

The total daily turnover on the BSE increased by Rs 1 billion to Rs 7.2 billion from Rs 6.2 billion on Wednesday. ITC displayed the highest turnover at Rs 1.4 billion followed by Satyam Comp Rs 749.5 million, Reliance Rs 435.7 million, State Bank of India Rs 465.7 million, and Bajaj Auto Rs 358.4 million.

Hectic trading activity was observed at the other counters led by Infosys Tech ( Rs 291.2 ), Tata Tea (Rs 283.8 million), Castrol (Rs 278.3 million), Hind Lever (Rs 187 million), Zee Telefilm (Rs 171.5 million), ACC (Rs 170 million), BHEL (Rs 140.2 million), Tisco (Rs 129.9 million), NIIT (Rs 103.6 million) and Telco (Rs 91.9 million).

UNI