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ITC, SBI lead rally on FII support; Sensex up 30 points, 2842.51

Hectic purchases by the foreign institutional investors in ITC and State Bank scrips brought back some enthusiasm in the weak market today with the BSE Sensex registering a gain of 30 points on the Bombay Stock Exchange.

The FIIs made purchases in ITC, SBI while the Tata companies' scrips also reported gains, leading BSE brokers said.

The bank scrips which were declining of late also saw marginal improvement today, an analyst at the leading international equity research company said.

Reflecting the uptrend, the 30-scrip BSE Sensitive Index opened higher at 2817.81 points, touched the day's high of 2844.48 points, fell to touch the day's low of 2812.52 points, before closing at 2842.51 points, showing a net gain of 30.45 points from the previous close of 2812.06 points.

The broad-based BSE-100 index advanced by 11.01 points to 1267.97 points against the previous close of 1256.96 points.

It seems the Indian bourses are moving in an opposite direction to the world markers, a leading BSE broker said while referring the current market trend. ''Our market remained weak when world markets witnessed a firm trend last week, whereas in today's case, the major markets at Tokyo, Hongkong and London were down while the Indian bourses registered moderate gains.

At Tokyo, the benchmark Nikkie index down 186.44 points at 14341.37 points from the previous close, the Hang Seng at Hong kong dropped by 286.27 points at 10221.90 while the FTSE-100 at London reported decline immediately after the opening by loosing 83.70 points at 5539.20 points, brokers said.

The BSE-200 and Dollex indices also closed higher by 2.00 and 0.62 points to 294.13 and 115.63 points against the previous close of 292.13 and 115.01 points respectively.

Total turnover on the BOLT network clocked at Rs 8.16 billion.

Tobacco giant ITC topped the list of turnover by registering highest turnover of Rs 1.43 billion, followed by Satyam Computers Rs 1.01 billion, SBI Rs 706 million, Reliance Rs 663.3 million and Telco Rs 567.4 million.

Other actively traded scrips were Pentafour Software (Rs 521 million), Zee Telefilms (Rs 272.5 million), Tisco (Rs 214.9 million), Raymond Limited (Rs 158.5 million) , MTNL (Rs 153.1 million), L&T (Rs 146.1 million), Glaxo India (Rs 139.6 million), Tata Tea (Rs 103.8 million), Digital Equipment (Rs 100.9 million) and Castrol India (Rs 100.3 million).

UNI

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