Sentiment Upbeat

The announcement of one for one bonus issue by Reliance Industries gave a shot in the arm to sentiment on the Calcutta stock exchange, as it came upto the expectations of the market.

The news set off, despite settlement, a fresh bullish fervour in the market pushing up share prices all round and in the process select scrips touched new highs in markedly enlarged activity. Select non-specified shares too improved in sympathy.

The turnover recorded fair increase over the previous days level as fresh interest was somewhat widespread, the CSEs 50 share index soared to a high of 121.42 points before closing at 119.12 points

 

In the later half of the session the market came under pressure of profit-taking, which in turn erased part of the gains in the leading scrips.

RIL briskly surged forward to hit Rs. 389.40, but closed lower at Rs 371.50, while ACC after rallying to Rs 1368 receded to Rs 1344, with ITC market up to Rs 521.20 though the close was at Rs 508.20. PTI