Values Increase

Major share values flared up as the Reserve Bank of India yesterday announced its move towards capital account convertibility (CAC) in a phased manner over a period of three years beginning 1997-98. The RBI has also listed out a number of prerequisites for attaining CAC in its Tarapore Committee report.

The Delhi Stock Exchange (DSE) index (base 1983) went up by 12.54 points to close at 802.93 against 790.39 points yesterday. Market sources said the foreign institutional investors were busy buying selected scrips like HLL, ACC, Hero Honda, SBI and Telco. However, some of the shares including Ranbaxy, SmithKline Beecham and Bajaj Auto became victims of heavy bear offloading.

 

Better results of major corporate houses also aided the sentiment. HLL emerged as the major gainer in the specified shares group with Rs 65 at Rs 1,201 against previous close of Rs 1,136 followed by ACC Rs 50.10 at Rs 1,135, Hero Honda Rs 9.95 at Rs 514.95, SBI Rs 6.10 at Rs 321.10 and Telco Rs 5.10 at Rs 403.60.