Sensex Up On Pm Statement, Speculative Buying

Stockmarket indices rose sharply towards the end of the trading session yesterday following reports of the prime minister H D Deve Gowda suggesting that the hike in prices of petroleum products may not come about immediately.

Speculative buying from local operators also pulled up the markets, with the BSE Sensex up by 34.84 to close at 3453.16 against a previous close of 3418.32.

The markets had opened weak with trading presence from foreign institutional investors (FIIs) steady. Domestic institutions did not provide fresh buying support during intra-day trading.

The ITC stock hogged the limelight at the exchanges, recording its 52 week high at both exchanges and the stock also touched its circuit filter level at the BSE at Rs 363.