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| October 26, 1998 |
Buyback talk spurs domestic FI-led buying; Sensex recovers 105 points, 2889.71
Encouraged by the Centre's decision to allow buyback and the economic strategy spelled out by Finance Minister Yashwant Sinha as a blueprint to achieve greater liberalisation and boost corporate growth, equities surged at the Bombay Stock Exchange on buying interest by domestic institutions and operators today.
The BSE-30 Sensitive Index ended higher by 105.25 points at 2889.71 from the previous close of 2784.46. The Sensex, which opened at 2908.51, witnessed an intra-day high of 2922.32 and low of 2878.98. According to marketmen, local operators, both Bombay-based and in other parts of the country, bought index-based scrips including those of software companies. Foreign institutional investors had a nominal presence in the market. The Unit Trust of India sold key pivotals at higher levels, brokers added. The BSE-100 index closed at 1296.93 points, gaining 50.93 points, BSE-200 index ended 12.28 points higher at 302.78 and Dollex index closed at 119.20 points, increasing by 4.83 points. UNI |
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