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Late charge by bulls pushes Sensex past 52-week high; gains 44 points to 4254.86

A bullish fervour prevailed during the later part of Tuesday as equities continued their upward march on buying support extended by foreign institutional investors or FIIs and local operators at the Bombay Stock Exchange today.

The BSE-30 Sensitive Index or the Sensex surpassed the 52-week high mark recorded on Monday and ended 44.50 points or 1.05 per cent higher at 4254.86 as against the previous close of 4210.36.

Shifting of outstanding positions of brokers to the BSE from the National Stock Exchange, whose trading cycle ended today aided the uptrend.

The Sensex opened strong at 4236.01 and remained well above the 4200-mark throughout the day. The day's high was 4274.30, while the low was 4274.30.

Marketmen said that international pressure on Pakistan and the capture of key heights in the Kargil region by the Indian Army infused some confidence among them as they felt that the battle may soon enter a conclusive phase without any escalation in action.

Software stocks led the rally at Dalal Street, all of which ended higher than their previous levels. Satyam Computers closed at Rs 1,235, Infosys Technologies at Rs 3,450, Pentafour at Rs 1,072, Reliance at Rs 187, Telco at Rs 220 and SBI at Rs 260.

FIIs bought infotech stocks while the public financial institutions sold key scrips at higher levels, brokers said.

Reflecting the uptrend, the BSE-100 index rose by 17.34 points to close at 1822.86.

The BSE-200 and Dollex indices ended higher by 3.57 and 1.30 points at 415.98 and 160.35 respectively.

UNI

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