Friday, September 30, 2005

Bulls strike the right chord despite stir, Sensex rises

The Left-led strike failed to adversely impact the bourses on Thursday as bulls, once again, grabbed the center-stage and pushed the indices northwards.

Pharma, tech and power constituents of the indices led the rally as the 30-share Sensex of the Bombay Stock Exchange (BSE) Ltd gained 44.14 points or 0.51% to close at 8,650.17, after crossing the 8,700-mark for the first-time ever to touch an intra-day high of 8,722.17. The broader S&P CNX Nifty of the National Stock Exchange (NSE) also gained 0.51% or 13.15 points to close at 2,611.20. Although the indices registered gains, the market undertone remained weak.
On BSE, 2,166 stocks closed in the red while only 395 stocks gained ground. A total of 768 stocks hit the lower circuit on Thursday. The BSE Smallcap index lost nearly 112 points.

The combined turnover crossed the Rs 43,000-crore mark for the first time, touching a new high of Rs 43,066.32 crore on Thursday. The cash turnover on BSE and NSE was also higher at Rs 4,258.20 crore and Rs 9,519.39 crore, respectively.

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