According to some players, the safe passage of the insurance bill will havea big impact on the market during Friday's trading (on Thursday, the newscame after the market hours). According to Chirag Sanghvi at Asit C MehtaInvestment Intermediaries, ``we are expecting the market to cross the 4800mark intra-day on Friday but likely to close near the 4750 level as it isthe last day of trading on the current settlement on the BSE.''

However, others feel that the market has already discounted the passage ofthe bill so it is to be seen whether the Sensex can sustain the higherlevels. ``4715 is a big resistance level and today the market came back froma high of 4713. So it is to be watched whether it can break that level onFriday,'' said Hiten Sampat at Parag Parikh Financial Advisory Services.

While the sensex showed a 77-point gain, trading volumes dipped as comparedto Wednesday. On Thursday, the trading volume was Rs 2,910 crore,signicantly lower than Wednesday's figure of Rs 4204 crore. Meanwhile, thenumber of declines too remained high at 937 whereas the advances were at889. The number of stocks which remained unchanged was at 193.

For the Sensex, with a gain of more than two per cent, Hindustan Leverremained the main contributor. Ranbaxy also gained more than seven per centand helped the sensex record an impressive gains. Other index-based stockslike Telco, Bajaj Auto, HPCL and Tisco also reported buying interest.

PSU stocks remained the flavour of the day. HPCL, IPCL, and VSNL hit theupper circuit. Stocks like MTNL, BPCL, and Bhel also witnessed investmentbuying.

However, the software sector remained depressed. Although Satyam hit anall-time high, it failed to show an impressive rally. Pentafour, Silverline,Himachal Futuristic, Rolta, Global Tele too failed to attract major buying.The volatility factor was at its peak in the Zee Telefilm counter. Afterdipping below Rs 6,000 mark in the first half-an-hour of the day, during thelater part of the day, it managed to cross Rs 6500 level. The close for thestock was at Rs 6380. Digital too witnessed simlar moves. After posting apeak of Rs 780 in the morging, the stock dipped to a low of Rs 733.

Among the specified list, stocks like BSES, Aptech, HDFC, Bombay Dyeing,Reliance Capital, Escorts, ICICI Bank, McDowell and Andhra Valley showedimpressive gains.

As far as the non-specified group was concerened, stocks like Pantaloon,Data Pro, Kale Consultants, Polaris, Media Video, TVS Electronics, PeerlessShipping, Jaiprakash Industries, Apollo Hospitals, Bank of Madura, Fulford,Maharaja International, and Laffans Petro recorded handsome gains.