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Sensex surges up 92.55 points

Castrol India led the northern journey on the Bombay Stock Exchange today following renewed buying support from the foreign institutional investors, domestic institution and shortcovering by the bear operators.

The market improved following the encouraging political development at the Centre where the Congress has reportedly agreed to work out a solution to the present political crisis. This led to an improvement in the market sentiments, leading brokers said. Moreover, the demand of the Bharatiya Janata Party and its allies to reconvene the house on Monday to transact important official business had been accepted by Lok Sabha Speaker P A Sangma, which helped spread cheer in the country's premier capital market, they added.

Mirroring uptrend, the BSE Sensitive Index (30 scrips) crossed another psychological barrier of 3600 mark, as it opened lower at 3530.68 points, touched day's high of 3645.90 points before closing at 3628.07 points, showing a net gain of 92.55 points as against the previous close of 3535.52 points.

The FIIs heavily bought the shares of Castrol India, Larsen and Toubro and BHEL whereas domestic financial institutions including Industrial Development Bank of India with bear operators were purchasing heavy weighted shares.

The Indian rupee remained nearly steady against the US dollar which has also improved the sentiment of FIIs, brokers said. The broadbased BSE National Index (100 scrips) finished at 1572.28 points over yesterday's close of 1532.35 points gaining 39.95 points.

The BSE-200 and Dollex indices improved by 07.83 and 03.73 points to 353.70 and 153.07 points as compared to last trading day's close of 345.87 and 149.34 points respectively.

The total turnover increased by over Rs 1 billion to Rs 10.5 billion from Rs 9.4 million, involving 44.6 million shares.

The ITC led highest volume of the business with a turnover of Rs 4.2 billion followed by SBI Rs 1.2 billion, Castrol Ind Rs 1.1 billion, Reliance Rs 1 billion, Tata Tea Rs 725.9 million, ACC Rs 279.9 million, Hind Lever Rs 166.6 million, TISCO Rs 156.4 million, TELCO Rs 153.1 million, Bajaj Auto Rs 119.4 million, MTNL Rs 105.4 million, BHEL Rs 96.8 million, Apollo Tyres Rs 91.9 million, Colgate Rs 78.1 million, and L&T Rs 71.9 million in the specified counters.

A good transaction was witnessed at Zee Telefilm (Rs 50.9 million), Videsh Sanchar (Rs 20.7 million), Sanghi Poly (Rs 20.5 million), Satyam Comp (Rs 18.4 million), Nicholas Pir (Rs 17.9 million), Thiru Aroora (Rs 15 million), Wyeth Lab (Rs 13.9 million), Credit Ratings (Rs 11.6 million), LML (Rs 11.1 million) in the non-specified counters.

Cement giant ACC gained by Rs 95 to Rs 1240, Castrol India by Rs 59.25 to Rs 723.75, Bajaj Auto by Rs 33.75 to Rs 604.00, BHEL by Rs 14.75 to Rs 349.50, Asian Paint by Rs 7.75 to Rs 287.00, ITC by Rs 17 to Rs 593.00, Reliance by Rs 2.50 to Rs 166.00, State Bank by Rs 7.75 to Rs 225.25, Tata Steel by Rs 2.75 to Rs 134.50.

UNI