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Tue close: Sensex soars 87 pts

Firm global advices boost the market sentiment, taking the BSE benchmark index to 11,706.85 points.

india Updated: Aug 29, 2006 20:16 IST

Firm global advices boosted the market sentiment on the Bombay Stock Exchange (BSE) on Tuesday and the benchmark, Sensex, rallied by 87 points to end above the 11,700 level at 11,706.85 points for the first time since May 17.

Prices shot up by midsession on heavy buying activity by both foreign and domestic funds in almost all segments.

However, select index-based scrips tended to move down toward end on fresh profit-selling and the index surrendered some of the midday gains.

The BSE 30-share index opened firm at 11,651.96 points as compared to Monday's close of 11,619.52 points and shot up further to a high of 11,739.77. Later, it moved down marginally and ended at 11,706.85, showing a smart gain of 87.33 points or 0.75 per cent over previous day's close.

Attributing the sudden heavy buying to firm global advices, brokers said in the Asian market Heng Sang shot up by 160.92 points, Nikkie by 127.97 points and Kospi by 16.72 points. Similarly, at the Wall Street, the Dow Industrial Average and the Nasdaq Composite Index also showed impressive gains.

Buying activity was mainly seen in consumer durable, PSU, IT and Tech segments.

Some of the firm spots were Infosys Tech, BHEL, HDFC, Maruti, Wipro, ONGC, TCS, Satyam, L&T, Hero Honda, Cipla, ICICI Bank, ITC, RCOML and SBI.

On the other hand, RIL, Tata Steel, REL, Bharti, HLL, Bajaj, Dr Reddy, Tata Motors, Grasim and ACC remained weak.

The broad-based BSE-100 Index firmed up further by 36.84 points to 5,952.13 from the previous close of 5,915.29 points.

The BSE-200 Index and the Dollex-200 were also ended higher at Rs 1,404.27 and 502.73 from the previous close of 1,396.35 and 499.81 respectively. The BSE-500 Index firmed up by 22.81 points to 4,445.64 from 4,422.83 and the Dollex-30 rose to 2,066.72 from 2,050.98 previously.

Among gainers, Infosys Tech firmed up by 35.80 to 1805.60, BHEL by 38.20 to 2283.70, Maruti by 21.60 to 855.45, ONGC by 24.65 to 1221.65, HDFC by 26.40 to 1289.95, L&T by 10.15 to 2426.65, Wipro by 11.90 to 525.10, Cipla by 4.95 to 248.50, Hero Honda by 4.15 to 718.90, NTPC by 2.85 to 127.45, Satyam by 7.20 to 818.75, TCS by 7.80 to 990.10, ICICI Bank by 8.15 to 595.65, RCOML by 9.50 to 309.10, ITC by 4.40 to 184.60 and SBI by 2.35 to 921.15.

However, RIL declined by 5.35 to 1116,70, Tata Steel by 10.85 to 517.00, Bharti by 2.15 to 414.75, HLL by 5 to 234.80, REL 1.55 by 448.20, Tata Motors by 6.45 to 845.30, Dr Reddy by 2.35 to 711.70, Grasim by 5.35 to 2223.95, ACC by 1.90 to 912.13 and Hindalco by 1.05 to 844.85.