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Sensex races on, gobbles another 70 points!

Surpassing the psychological barrier of 3,400 points, the BSE sensex closed higher by another 70 points as pivotals gained on good buying support from foreign institutional investors, domestic institutions and speculators.

News reports expressing the possibility of a review in the US sanctions against India strengthened the confidence of marketmen who were already in a jubiliant mood in view of various other positive factors.

The FIIs bought considerable number of shares at prime counters like Glaxo, Tisco, L&T, BSES and State Bank of India. In the software group, Infosys Tech was in the limelight.

Domestic institutional investors also made heavy purchases in the index-based scrips, markemen said.

Reflecting the bullish phase, the 30-share BSE sensex opened at 3,375.55. Surpassing the important mark it touched the day's high of 3,409.50, the low of 3,344.09 and finally ended at 3,401.74 points, showing a net gain of 69.76 points against the previous close of 3,331.98 points.

The sensex has gained by about 323 points during the last five trading sessions.

Marketmen attributed the fresh rally in pivotals to the firm trend in the prices of Indian global depository receipts in the international market.

The broad-based BSE-100 index closed higher by 27.58 points to 1,486.68 against the previous close of 1,459.10 points.

The BSE-200 and dollex indices also firmed up further by 5.50 and 2.53 points to 337.22 and 132.20 points against the previous close of 331.72 and 129.67 points respectively.

Among the gainers, ACC flared up by Rs 27 to Rs 1,350.25, Bajaj Auto by Rs 24.70 to Rs 631.25, ITC by Rs 10.50 to Rs 703.50, Reliance by Rs 3.70 to Rs 149.50, State Bank by Rs 15.50 to Rs 230.50, Telco up by Rs 2.90 to Rs 175.60, and Tisco by Rs 5.70 to Rs 130.90.

Heavy weights like Hind Lever lost by 1.50 to Rs 1,606.50, and Mahindra eased by Rs 3.60 to Rs 201.

The total turnover on the bolt system was Rs 9.34 billion. ITC topped the turnover list by registering Rs 1.42 billion, Satyam Comp Rs 1.35 billion, State Bank of India Rs 1.26 billion, Reliance Rs 635.2 million and Telco Rs 385.8 million.

The other actively traded scrips were Pentafour (Rs 293.1 million), Castrol Ind (280 million), Tata Tea (Rs 230.4 million), Tisco (Rs 209.4 million), Zee Telefilm (Rs 202.6 million), BHEL (Rs 187.7 million), L&T (Rs 182.7 million), Hind Lever (Rs 172 million), Infosys Tech (Rs 164.4 million) and ACC (Rs 151.2 million).

UNI