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Satyam, Bajaj Auto, blue chips gain on support of bulls and FIIs; Sensex up 40.5 points to 3713.18

Led by Satyam Computers, select equities gained smartly on speculative buying by bull operators and foreign institutional investors, pushing the BSE Sensex up by 40 points at the Bombay Stock Exchange on the first day of current settlement today.

According to leading BSE brokers, the FIIs made considerable purchases in Satyam Computers and some other blue chips. Automobile giant Bajaj Auto also witnessed hectic trading activity and good buying support from speculators, they said.

Reflecting the trend, the 30-scrip BSE Sensex opened firm at 3691.52 points, surpassing the psychological barrier of 3700 points, touched the day's high of 3737.43, the day's low of 3652.70 points, before closing above the 3700 mark at 3713.18 points, showing a net gain of 40.55 points, as against the previous close of 3672.63 points.

The analysts were not surprised by today's rally. They said the market is likely to suffer another correction in view of high badla (the rate of carry forward deals) rates in last week.

The annualised badla rates were quoted at 40 per cent as against last week's 24-26 per cent.

They attributed the recovery to the speculative buying.

The broad-based BSE-100 index rose by 26.76 points to 1644.05 points as against the last week's close of 1617.29 points

The BSE-200 and Dollex indices closed higher by 6.93 and 2.57 points to 378.32 and 148.59 points from the previous close of 371.39 and 146.02 points respectively.

UNI

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