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Reliance, Pentafour, ITC, infotech and pharma shares flare up on speculation; Sensex recovers 70 points, 3278.58

The Sensex of the Bombay Stock Exchange zoomed up by 70 points as select shares staged a smart rally following heavy buying support from bull operators on the first day of current weekly settlement today.

Shares, mainly from the infotech and pharma sectors, posted handsome gains on speculative buying support. Pentafour Software, ITC, and Reliance were at the forefront, dealers said.

Mirroring the bullish phase, the 30-scrip BSE Sensex opened at 3217.74 points, touched the day's high of 3278.58 points, fell to the day's low of 3197.78 points and finally ended at 3278.58 points, showing a net gain of 70.73 points from the previous close of 3207.85 points.

The broad-based BSE-100 index rose by 31.64 points to 1453.05 points as against the Friday's close of 1421.41 points.

Market analysts, however, commented cautiously on today's rally. They said that today's rally is not sustainable and that the market is likely to suffer major correction tomorrow, at the last day of trading cycle on the National Stock Exchange.

The BSE-200 and Dollex indices were advanced by 6.56 and 2.34 points to 335.74 and 131.52 points as against the Friday's close of 329.18 and 129.18 points respectively.

Among the gainers, Cadbury's which rose by Rs 15.25 to Rs 481.50, Colgate Rs 4.70 to Rs 204.30, Dr Reddy's Rs 17.50 to Rs 530, German Remedies Rs 59 to Rs 798.50, Hero Honda Rs 20.50 to Rs 578.00, Hindustan Lever Rs 48 to Rs 1726, Infosys Tech Rs 31.25 to Rs 4031.25, ITC Rs 40.75 to Rs 834, Mahindra and Mahindra Rs 2.10 to Rs 183.70, Mahanagar Telephone Nigam Rs 5.10 to Rs 180.70, Nestle Rs 9.25 to Rs 487.75, Pentafour Software Rs 58.50 to Rs 791.75, Procter and Gamble Rs 14.25 to Rs 801, Reliance Rs 0.90 to Rs 135.70, SBI Rs 1.40 to Rs 172, Sterlite Rs 5.10 to Rs 153.70, Telco Rs 3 to Rs 214.50, Tata Tea Rs 13.75 to Rs 380.75, Zee Telefilms Rs 4.25 to Rs 622.25.

The losers included Bajaj Auto which declined by Rs 10.25 to Rs 482.50, BHEL Rs 7.50 to Rs 262.40, Dabur India Rs 10.50 to Rs 518.75, Grasim Rs 2.70 to Rs 188.00.

UNI

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