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Sensex gains 90 points; Satyam up 6%
July 24, 2003 16:05 IST
Unabated buying in heavyweights, techs and select PSUs towards the fag-end saw the Sensex finally settle with a huge gain of 90 points at 3,668. The Nifty also advanced 24 points to close at 1,143.
Heavyweights witnessed heavy buying and contributed to the gains of the Sensex. Reliance at Rs 345 (up Rs 15 or 5%), HLL at Rs 166 (up Rs 7 or 5%) and ITC at Rs 745 (up Rs 19 or 3%) rallied sharply on renewed buying support.
Tech pivotals ended with steep gains on renewed buying support. HCL Tech flared up 5% (Rs 8) to Rs 167. Infosys sneaked into postive zone with a gain of a per cent (Rs 31) at Rs 3,469, after remaining in negative zone for better part of the trading session.
Satyam Computer, which reported a 12% increase in net profit at Rs 121.49 crore for the quarter ended June 30, 2003, and a topline guidance of 18-20% for FY04, spurted 6% (Rs 11) to Rs 187 on sustained buying support. More than 84 lakh shares were traded on BSE with a turnover of Rs 154 crore.
PSU frontliners displayed positive trends. BHEL, after trading in and out of positive zone, gained 2% (Rs 7) to close at Rs 263. While MTNL registered 3% gains (Rs 3) to Rs 106, HPCL closed up a tad at Rs 328.
SBI, after reporting a 20% increase in net profit at Rs 913.50 crore for the quarter ended June 30, 2003 when compared with Rs 763.20 crore in Q1FY03, attracted buying interest and rose 2% (Rs 8) to Rs 406. SBI's volume accounted for more than 26 lakh shares on BSE with a turnover of Rs 105 crore.
Pharma, cement and auto stocks, too, displayed positive trends on renewed buying support.