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Infotech, FMCG shares push Sensex beyond 3700

According to dealers, the infotech and FMCG (fast-moving consumer goods) shares were in the limelight while the pharmaceutical counters witnessed a mixed trend.

The FIIs reportedly made purchases in Infosys Technologies, BSL Software, Great Eastern Shipping, ITC, HDFC, Ranbaxy, TELCO and Zee Telefilms, dealers said.

The 30-scrip BSE Sensex opened firm at 3700.56 points, but fell below the 3700 mark and touched the day's low of 3658.05 points in the morning trade following heavy selling pressure in pivotals by operators.

It, however, recovered smartly later and touched the day's high of 3716.02 points, before closing at 3702.81, a net gain of 29.30 points. The index had closed at 3673.51 points yesterday.

The broad-based BSE-100 index rose 16.05 points to 1619.08 points. Yesterday it had closed at 1603.03.

Jignesh Shah, assistant vice-president (research) at Triumph International Finance, a stock-broking firm, said the market has come out of its technical correction and is heading for a big rally. He expects the Sensex to cross 4000 next week.

The BSE-200 and Dollex indices closed at 372.26 and 146.07 points, higher by 3.01 and 1.25 from the previous closing figures of 369.25 and 144.82 points, respectively.

The major gainers on the exchange today were ACC, ITC, Satyam Computers, Digital Equipment, PSI Data, Infosys Technologies, BSL Software, NIIT, Reckitt & Colman, Procter & Gamble, SmithKline Beecham, Hindustan Lever, German Remedies, E Merck, IPCA Laboratories, and State Bank of India.

The prominent losers were Glaxo, Cipla and Reliance.

The BSE's total turnover rose sharply to Rs21272.7 million compared to yesterday's Rs18085.6 million. Pentafour Software topped the list by registering a turnover of Rs3579.7 million, followed by ITC with Rs1973.6 million, SBI (Rs1638.9 million), Satyam Computers (Rs1622.2 million), Zee Telefilms (Rs1259.8 million) and Reliance Industries (Rs1151.2 million).

Other actively traded counters were Infosys Technologies (Rs645.7 million), Tata Tea (Rs596.4 million), L&T (Rs482.5 million), Digital Equipment (Rs346.8 million), ACC (Rs321.5 million), TELCO (Rs313.8 million), MTNL (Rs312.5 million), Ranbaxy (Rs308.8 million), and Hindustan Lever (Rs290.3 million).

UNI

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