Sensex Up On Uti Deal Hopes

The BSE Sensex closed today at 3,181.23, a six week high level, notching gains of 67.07 points on hopes that a rescue package for the Unit Trust of India (UTI) will end the supply overhang and pave the way for strong foreign fund inflows.

Smart gains in blue-chip and technology stocks fed the rally, which was also supported by buying from domestic and foreign institutions.

Hindustan Lever rallied 4.62 per cent to Rs 186.70 on domestic fund buying. Media major Zee Telefilms was the top gainer among the Sensex stocks on renewed buying. The stock settled up 6.91 per cent at Rs 110.65.

 

Ved Prakash Chaturvedi, COO at Tata TD Water House AMC said,