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Nifty gains 32.90 points

Shares prices zoomed up on good buying support by domestic financial institutions and heavy short covering by bull operators on the opening day of the new settlement period on the National Stock Exchange today.

Reflecting the upbeat sentiment in the market, the NSE-50 index rose sharply by 32.90 points to 908.50 points from the previous close of 875.60 points. The Dollar NSE-50 also jumped up by 30.70 points to 737.75 points over 707.05 points of the previous day. The Midcap index shot up by 71.20 points to 1292.45 points as compared to the previous close of 1221.25 points.

The total turnover, involving 42.65 million shares in 135,049 trades was Rs 8.17 billion and about 735 shares advanced, 180 declined, 57 remained unchanged while 88 securities hit their price bands.

Foreign institutional investors sold shares worth Rs 115 million and made purchases of Rs 90.1 million, indicating reduced outflow of foreign funds worth Rs 24.9 million compared to yesterday's net outflow at Rs 139.3 million.

Tobacco giant ITC continued at the top in turnover with Rs 26.9 billion, followed by SBI-N Rs 635.6 million, Reliance Rs 576.6 million, Pentsfware Rs 574.2 million, Satyam Comp Rs 360.9 million, Infosys Tech Rs 323.1 million, Tisco Rs 226.4 million, L and T Rs 219.1 million, Telco 212.4 million, Tata Tea Rs 178.7 million, Hind Lever Rs 175.1 million, ACC Rs 171.8 million and Castrol Rs 168 million.

The other counters which witnessed hectic activity were SQRD Sfware (Rs 141.6 million), Rel Petro (Rs 98.2 million), Zee Tele (Rs 81 million), Wipro (Rs 77.8 million), Bajaj Auto (Rs 62.3 million), MTNL (Rs 58.1 million), BHEL (Rs 50 million), ICICI (Rs 45.5 million), Sterlite (Rs 45.4 million), Soft Sol Int (Rs 40.4 million), LML (Rs 38.2 million) and NIIT (Rs 37.6 million).

The top five gainers were BSES 10.01 per cent increase to Rs 144, TVS Suzuki 9.99 per cent to Rs 420.60, BHEL 9.98 per cent to Rs 216.45, ICICI 9.54 per cent to Rs 70.05 and EI Hotels 9.35 per cent to Rs 241.50 while Hind Petro lost by 0.70 per cent to Rs 389.75 from 392.50 of the previous close.

UNI