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Sensex surges 55.63 points ahead

Speculatives forged ahead on renewed buying support from foreign institutional investors and speculative buying on the Bombay Stock Exchange today.

The local institutions -- Unit Trust of India invested a sizeable amount in the capital market also aided the uptrend trend.

The market opened higher and crossed the psychological barrier of 3500 mark, fluctuated between 3514.98 and 3577.59 points during the intraday trading. Being the first day on the National Stock Exchange, speculators bought considerable number of shares, leading brokers said.

Mirroring the uptrend, the BSE Sensitive Index (30 scrips) opened at 3516.05 points, touched day's high of 3577.59 points before closing at 3535.52 points, showing a net gain of 55.63 points as against its previous close of 3479.89 points.

A further weakening of the Indian rupee against the US dollar in the interbank foreign exchange market demoralised the sentiment of investors. However, bear operators were making short coverings. Blue chips including ITC, Bajaj Auto, TISCO, RIL gained moderately during the midday trading, but lost at the fag-end trading, following profit booking at higher levels by common investors.

The broadbased BSE National Index (100 scrips) closed at 1532.33 points over the yesterday's close of 3479.89 points gaining 44.72 points.

The BSE-200 and Dollex Indices improved by 4.75 and 1.57 points to 345.87 and 149.34 points as compared to last trading day's close of 340.62 and 147.87 points respectively.

The total turnover was Rs 9.8 billion involving 41.4 million shares. The volume of business was led by ITC with Rs 424.87 million turnover followed by Reliance Industries Limited Rs 1.2 billion, SBI Rs 1.2 billion, Tata Tea Rs 576.5 million, Castrol Ind Rs 329.1 million, Hind Lever Rs 170.6 million, TELCO Rs 169.8 million, ACC Rs 160.9 million, TISCO Rs 126.3 million, Hindalco Rs 111.5 million, MTNL Rs 101.7 million, BHEL Rs 73.2 million, Bajaj Auto Rs 47.6 million, Colgate Rs 41.9 million, Ponds India Rs 38.4 million in the specified counters.

Good transactions were observed at Videsh Sanch (Rs 41.3 million), Thiru Aroora (Rs 26.3 million), Satyam Comp (Rs 24.3 million), Sanghi Poly (Rs 19 million), LML (Rs 16.6 million), Infosys Tech (Rs 11.9 million), Credit Rating (Rs 11.3 million), Dig Equip (Rs 7.4 million) at the non-specified counters.

UNI