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G-8 snub to Pak cheers market; Sensex vaults 100 points (2.4 pc) to 4210.36

Led by the foreign institutional investors, equities registered handsome gains with the software stocks hogging the limelight on the opening day of the current settlement at the Bombay Stock Exchange today.

Reflecting the uptrend, the BSE-30 sensitive index (Sensex) zoomed 100.47 points or 2.43 per cent to end the day above the 4200-mark at 4210.36. The previous close was 4109.89. Opening at 4143.64 (also the day's low), the Sensex touched an intra-day high of 4214.85 before settling a tad lower towards the fag end.

Marketmen informed that the G-8 countries' warning to Pakistan at their summit in Cologne to desist from any military action to change the status quo at the Line of Control and accepting India's argument that the Line of Control had been violated aided in developing some confidence among players. They felt that Pakistan may relent under international pressure, which will help avoid a costly escalation of conflict.

Brokers said that the FIIs were buyers in infotech counters like Satyam Computers and Infosys Technologies. They also bought good quantity of ITC, Grasim, Indian Rayon and Reliance.

Public financial institutions were not as active as the FIIs. They bought nominal amount of key pivotals, brokers said.

The BSE-100 index rose by 45.79 points to close at 1805.52 points from the previous close of 1759.73.

The BSE-200 index posted an increase of 10.51 points to end at 412.41, while the dollex index increased by 3.97 points to close at 159.04.

UNI

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