Active Buying Seen

Booming conditions were maintained on the Delhi Stock Exchange (DSE) yesterday as majority of the blue chip prices flared up to touch recent peaks on frenzied buying by foreign institutional investors (FIIs) and speculators coupled with short covering. Marketmen said, with the sea change in the markets scenario, general investors also turned active buyers, giving further push to values.

FIIs continued to pick up multi-national company shares like ITC, HLL, Nestle India and other strong fundamental company shares. The sensitive index shot up by 10.9 points to close at 849.04 points. ITC stocks increased on huge purchases by FIIs and speculators fuelled by rumours that British American Tobacco (BAT) is likely to enhance its stake in the Indian company. Its prices flared up by Rs 9.25 to close at 529.85.

 

HLL also continued its rising tempo on frantic buying by FIIs and domestic investors mostly attributed to the companys strong fundamentals amidst higher upcountry market trends and ended Rs 7 higher at Rs 1295 while Nestle India quoted higher at Rs 293 as compared to previous close of Rs 279.50.