The year 1997 commenced on a strong footing yesterday at the Delhi Stock Exchange.
Most of the heavy weighted stock prices staged a remarkable recovery to close with sharp to moderate gains.
The uptrend in sentiment was on account of the resumption of buying by foreign institutional investors (FIIs) and domestic financial houses coupled with all-round speculative buying.
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Marketmen said the rise in share prices was mainly attributed to Prime Minister Deve Gowda's statement that the government would take a series of measures to revive the capital market and economy in a fortnight.
FIIs were major buyers in State Bank of India, Bajaj Auto,BSES and several multInational companies shares for the better part of the day.
Alongwith the positive trends, the Delhi Stock Exchange sensitive index, the barometre of the blue chips strength, flared up by a whopping 22.72 points to close at 712.25 points.
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