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Sensex moves up

Company circles bought over 500,000 Reliance Industries shares and the Hinduja group made sizeable purchase of Tata Steel shares, leading brokers said.

Due to shortage of cement stocks, the ACC share flared up today following the backwardisation transaction that was done on Saturday at the rate of Rs 21, they said. Moreover, domestic institutions continued with their buying spree at the select counters which aided the uptrend.

Mirroring the uptrend, the BSE Sensitive index (30 scrips) closed at 3367.56 points showing a net gain of 38.29 points as against the previous close of 3329.27 points.

The market opened on profit-taking at lower level by bear operators, then company circles entered in the market and purchased considerable amount of index-based shares, which drifted the Sensex higher to 3371.73 points. In the afternoon session speculators started booking profit at higher level which crashed the Sensex below 3300 mark and quoted at 3291.09 points, finally recovered and closed at 3367.56 points.

The National index (100 scrips) improved to 1465.91 points over the last trading day's close of 1450.87 points gaining 15.04 points.

The BSE-200 and dollex indices recovered by 03.09 and 01.78 points to 328.04 and 137.95 points as compared to Friday's close of 324.95 and 136.17 points respectively.

The total turnover was Rs 6 billion involving 26 million shares. The volume of the business was lower compared to the previous day.

Turnover was led by ITC with Rs 2 billion followed by RIL Rs 1.1 billion, Tata Tea Rs 417.7 million, SBI Rs 370.5 million, Castrol Rs 356.6 million, ACC Rs 304.3 million, TISCO Rs 266.8 million, TELCO Rs 155.7 million, Hind Lever Rs 150 million, Bajaj Auto Rs 93.6 million, Mah and Mah Rs 79.4 million, MTNL Rs 65.6 million, Glaxo Rs 44.4 million, Proc and Gamble Rs 43.1 million and BHEL Rs 34.7 million in the specified counters.

Good transaction were witnessed at Infosys Tech (Rs 32.8 million), Nicholas Pir (Rs 14.5 million), Satyam Comp (Rs 14.1 million), Cummins (Rs 14 million), Corporation Bank (Rs 11.2 million), Punjab Tractor (Rs 7.1 million) and Auto Axles (Rs 4.5 million) in 'B' counters.

UNI