Rediff On The Net Business News: The BSE -- morning report, July 5, 1999: Sensex up 80 points

7 Rediff On The Net Business News: The BSE -- morning report, July 5, 1999: Sensex up 80 points


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July 5, 1999

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Sensex gains 80 points as recapture of Tiger Hill cheers market

The Bombay Stock Exchange opened on a firm note on Monday morning. There was an air of jubilation over news that the Indian forces recaptured the crucial heights of Tiger Hill in Kashmir from Islamic militants.

The 30-share benchmark index, the Sensex, was at 4275 by 1230 hours IST, up 80 points or 1.90 per cent from Friday's close.

Dealers said the sentiment was firm. Cyclical and cement stocks were in the limelight. Pivotals posted smart gains while the software sector stocks bounced back into reckoning. Hindustan Lever Limited was at a new high of Rs 2,450. Godrej Soaps touched the upper limit of the circuit-breaker. Pharmaceutical and fast moving consumer goods stocks registered moderate gains.

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