Wednesday, January 24, 2001
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Sensex continues upward march, gains 30 points 

Our Markets Bureau  
Mumbai, Jan 23: Hectic buying in key counters like Zee Telefilms, RIL, RPL, SBI, L&T and MTNL by operators, backed by follow-up purchases from foreign institutional investors (FIIs), helped the bourses once again to post handsome gains. The benchmark Sensex gained 30 points, while S&P CNX Nifty was up 7 points.

The focussed price rally was so impressive that the Sensex could score marked gains inspite of a noticeable setback in Bhel, Grasim, Hindalco, Infosys Tech, ITC and Satyam Computers, that carry fairly good weightage in the the market barometer. Operators were good buyers in old economy stocks on the back of fresh purchases by FIIs in L&T, RPL and few others. Fresh buying by operators was attributed to short-covering on the NSE as Tuesday was the last day of current settlement. The Sensex opened firm and moved to the intra-day high of 4321.75 but attracted profit-booking from domestic financial institutions to reach the intra-day low of 4272.87 before closing at 4296.69 as compared to Monday's close of 4267.11, netting a gain of 29.58 points. Nifty also gained 7.20 points to end the day at 1355.20.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

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