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Speculative buying rejuvenates market, Pentafour sizzles; Sensex up 62 points to 3122.04

Equities registered handsome gains on the opening day of the new trading cycle as the Sensex of the Bombay Stock Exchange rose by nearly 62 points today.

The BSE-30 Sensitive Index opened at 3113.62, witnessed a high and low of 3148.07 and 3113.62 respectively and ended at 3122.04, registering a net gain of 61.70 points from the previous closing of 3060.34.

Marketmen said that there was speculative buying in many stocks by local operators. Domestic financial institutions and foreign institutional investors maintained a nominal presence.

There was hectic activity in Pentafour Software counter on the news that the Reserve Bank of India had allowed the company to hike its FII stake from 24 per cent to 30 per cent.

The BSE-100 index ended at 1391.42, firming up by 29.19 points from the previous close of 1362.23.

The BSE-200 index closed at 321.99, rising 7.50 points, while the Dollex index ended at 126.11, a climb of 2.83 points.

The total turnover on the BOLT network of BSE was Rs 15.06 billion from trading in 63.8 million shares.

Pentafour Software topped the turnover list with Rs 2.46 billion followed by ITC (Rs 2.29 billion), Satyam Computers (Rs 1.67 billion), Reliance (rs 970.7 million) and SBI (Rs 728.1 million).

Others that recorded a high turnover were Zee Telefilms, Tata Tea, Telco, Tisco, Raymond, L&T, Dr Reddy's, Glaxo, ACC and Castrol.

UNI

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