labels: investment - general, bse
Sensex recovers by 371 pointsnews
Our Market Bureau
19 May 2004


Mumbai: The settlement of the transactions were smoothly handled which lifted the sentiments of investors and led to sustained buying of frontline stocks. Later in the afternoon the news that Sonia Gandhi will not be becoming the Prime Minister.

The 30-share Sensex of the Bombay Stock Exchange jumped 8.25 per cent or 371 points to close at 4877.02 while the broader S&P CNX Nifty of the National Stock Exchange rose 8.3 per cent to close at 1503.95.

The advances and declines data of the BSE shows that today's rally was broad-based. In the `A' group only five stocks declined while 194 advanced. In the `B' group, 970 stocks rose while 437 fell. In the `A' group no shares hit the lower circuit filter, while five froze at the upper circuit breaker

Mutual funds have bought stocks worth nearly Rs 750 crore in two days. Even though SEBI data shows that foreign institutional investors were net sellers on Monday, their gross purchases exceeded Rs 1,200 crore easing fears of an FII exodus from Indian equities. But some dealers do expect institutions to sell at higher levels.

 

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Sensex recovers by 371 points