Values Rise Sharply

Late buying by speculators and domestic financial institutions lifted the Delhi Stock Exchange (DSE) share prices to close sharply higher yesterday after moving in a narrow range for the major part of the session.

Stock brokers said expectations the Sebi might take a favourable decision on the Varma Panel recommendations on revised carry forward mainly fuelled late buying. They said bear operators who made short-selling in RIL and a few other counters on Tuesday were seen covering-up their short positions. This also had a positive impact on the sentiment.

FIIs buying activity was confined to automobiles and Fera group company shares. The DSE sensitive index recovered by 9.83 points to close at 850.78 points. RIL shares recovered by Rs 6 to close at Rs 404.50 after dropping to Rs 395.40 in early trading on profit-takers selling.

Tata Steels shares spurted by Rs 7.20 to close at Rs 185.90. SBI by Rs 4.60 at Rs 281.60. ICICI spurted by Rs 4.50 to Rs 101. ACC, BSES, L&T, Apollo Tyres, Arvind Mills, SmithKline Beecham, Hindustan Motors, Bajaj Auto, Hero Honda, Escorts, LML, Ranbaxy Labs and Nestle India also surged on brisk buying. - PTI