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Reliance pushes Sensex 77 points over 4000 mark

Continued hectic buying in the Reliance scrip on Friday lifted the BSE Sensex up by further 77 points on the Bombay Stock Exchange. After breaking the psychological barrier of 4000 points, the Sensex closed at 4057.37 points.

Encouraged with reported strong performance of the textile giant, foreign institutional investors and speculators made record purchases in the Reliance scrip. The scrip closed at about Rs 418.75, registering a smart gain of Rs 32.75 over the previous close of Rs 386.00.

The scrip was also in the limelight on the NSE, marketmen said.

With the increase in the Reliance share price, the side market also witnessed a firm trend, marketmen said.

Reflecting bullish phase, the BSE Sensitive Index opened at 3999.65, crossed the important mark of 4000 points and touched the day's high of 4083.99 points. The Sensex drifted lower from the day's high at the fag end of session to close at 4057.37 points, still registered a smart gain of 77.41 points over the previous close of 3979.96 points.

The BSE-100 index firmed up by 26.48 points to 1746.16 points over the previous close of 1719.68 points.

The BSE-200 and dollex indices also closed higher by 4.42 and 1.79 points to 388.64 and 178.45 points as against the previous close of 384.22 and 176.66 points respectively.

Leading BSE brokers said that the domestic institutional have sold shares at the select counters, while the FIIs and company circles made heavy purchases in the Reliance scrip and some other strong scrips.

With the weightage of 9 per cent in the BSE Sensex, the Reliance stole the show of the day, the exchange sources said.

Business volumes on the BSE surged further to Rs 12.9 billion as against Thursday's Rs 11.25 billion.

The market leader Reliance has registered highest turnover of Rs 6 billion, followed by ITC Rs 2.7 billion, SBI Rs 1 billion, Tata Tea Rs 676.3 million and Castrol Rs 316.5 million.

Hectic activity was observed at the other counters like Castrol Rs 316.5 million, TISCO Rs 189.4 million, MTNL Rs 191.2 million, TELCO Rs 189.4 million, ICICI 157 million, Bajaj Auto Rs 130.3 million, ACC Rs 98.5 million, Hind Lever Rs 74.3 million, BHEL Rs 73.9 million, Colgate Rs 72 million, HDFC Rs 54.9 million.

In the B2 group, good transactions were witnessed at Hind Petro, Sierra Optim, Infosys, Gas Auth Ind, BOI-D2, Orient Infor, Cyber Systems, Leading Edge, Reliance Pet, Pennar Alum, RS Software, Pun Chem, SRU Share Br, Dolat Inv and Ram Information.

UNI