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April 6, 1998

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Sensex on bull run, up 94.17 points

A jubilant sentiment on the Bombay Stock Exchange today shot the Sensex up by 94.17 points and the Natex by 45.82 points on the opening day of the new settlement. Equity prices zoomed on buying support from foreign institutional investors.

Mirroring the uptrend, the BSE Sensitive index (30 scrips) crossed the psychological barrier of 4100 mark. It opened higher at 4130.92 points, touched day's high of 4184.37 points, a low of 4122.71 points before closing at 4170.22 points, a net gain of 94.17 points compared to its previous close of 4076.05 points.

The broadbased BSE National index (100 scrip) also crossed 1800 mark and closed at 1816.12 points, gaining 45.82 points over the last working day's close of 1770.40 points.

The BSE-200 index jumped over the 400 mark and finished at 402.85 points with increase of 10.85 points as against the previous close of 392.00 points. The BSE Dollex index also went up, and closed at 169.76 points against its previous close of 165.18 points, a gain of 4.58 points.

The FIIs bought a huge amount of heavy-weighted shares including TELCO, Castrol, Hindustan Lever, and Bajaj Auto. However, domestic institutions like Unit Trust of India continued with its selling spree, leading brokers said.

The reported news of the union government hiking import tax on steel products pushed up steel shares prices.

The overall good sentiment in the capital markets throughout the country have a positive impact on country's premier BSE also, added the brokers.

Total turnover was Rs 15.5 billion involving 82 million shares in 183,665 trades. Out of 6,989 scrips, a total number of 1,755 scrips were traded.

ITC registered the highest turnover of Rs 2.1 billion, followed by Castrol India 1.5 billion, Reliance Rs 1.3 billion, TISCO Rs 846.3 million, TELCO Rs 798 million, Tata Tea Rs 795.4 million, Hindustan Lever Rs 666.8 million, SBI Rs 618.4 million, ACC Rs 493.8 million, Bajaj Auto Rs 476.3 million, BHEL Rs 447.6 million, ICICI Rs 288.6 million, MTNL Rs 272.9 million, BSES Rs 207.1 million and HDFC Rs 20.31 million in the specified counters.

Good transactions were observed at Oil and Natural Gas (Rs 62 million), Bausch and Lomb (Rs 20.9 million), DSQ Software (Rs 12.8 million), Raasi Cement (Rs 12.2 million), Federal Bank (Rs 12.2 million), BFL Software (Rs 1.15 million), Rolta Ind (Rs 11.3 million), Aptech (Rs 11 million), Wipro (Rs 1.1 million) and Bh Earth Movers (Rs 8.4 million) at the non-specified counters.

UNI

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