According to brokers, there was ample supply of funds in the market unlike the previous few weeks when badla financiers were wary of a war. While the underlying sentiment continues to be bullish, the fact that a number of scrips have entered the no-delivery period has contributed to the rise in net long positions.

"The fact that FIIs have been buying is a bullish sign. The international credit rating agencies have reaffirmed a stable rating for India twice - one, when the Government fell and two, when the battle started on the Kargil front. If the situation remains stable on the borders during the weekend,the market should open with a gap on Monday," said a BSE broker.

The BPL counter attracted a undha badla of Rs 2 which touched a high of Rs 11, indicating the heavy short sales positions in the scrip. According to one broker, the short sales position was to the tune of 2.5 lakh shares. Tisco also attracted a high undha badla of Rs 2, which points at the high short positions on the counter. The scrips that attracted higher than average badla rates included Videocon at 16.55 per cent, GE Shipping at 16.59 per cent and Arvind Mills at 16.39 per cent.

The scrips that attracted high backwardisation charges on account of book closure included Indo-Gulf Corporation at Rs 2.25, HPCL in the band of Rs 12-13, L&T in the band of Rs 5-6 and Global Trust Bank at Rs 3.