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Fresh buying pushes Sensex up 64 points to 4798

The Sensex of the Bombay Stock Exchange shot up by 64 points as select shares continued to register smart gains on heavy buying support from local operators and foreign funds today.

According to dealers, textiles and petrochemical giant Reliance, pharma leader Ranbaxy, Dr Reddy's and E Merck posted handsome gains on good buying support from local buyers. The foreign funds have reportedly made purchases in Reliance.

The RIL scrip, which surpassed its 52-week high yesterday, touched a new high of Rs 242 before closing at Rs 240, dealers said.

Polaris Limited was listed at the BSE today and closed higher at Rs 775 after opening at about Rs 565.80. Significantly, the Polaris counter witnessed a turnover of about 1.1 million shares at the BSE.

A report of Denmark's clearing to the Dr Reddy's anti-diabetes compound also boosted market sentiment. Dr Reddy's share price registered a gain of about Rs 100 at the NSE and BSE over the previous close, dealers said.

Reflecting the bullish phase, the 30-share BSE Sensex opened at 4779.56 points, touched the day's high of 4831.78 points, a low of 4765.39 points before closing at 4797.41 points, showing a net gain of 63.99 points from the previous close of 4733.42 points.

The broad-based BSE-100 index rose by 27.73 points to 2240.12 points as against the previous close of 2212.39 points.

The BSE-200 and Dollex indices closed higher by 6.90 and 2.46 points to 516.32 and 197.12 points respectively as against the previous close of 509.42 and 194.66 points respectively.

Commenting on the bullish phase, analysts opined that the market is moving up on the expectations of a stable government at the Centre. However, barring a few counters, the activities were in a narrow range, they added.

Total turnover on the BOLT system was Rs 27.23 billion.

Reliance topped the list of turnover by registering highest turnover of Rs 3.81 billion, followed by Ranbaxy Labs Rs 3.22 billion, Zee Telefilms Rs 1.71 billion, Silverline Industries Rs 1.12 billion.

Other actively traded counters were Satyam Computers, L&T, Global Telesystems, ITC, Infosys Technologies, Dr Reddy's, Sterlite, Pentafour Software, ACC and NIIT.

UNI

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