Values Recoup

A sharp rally in multi-national and automobile stocks enabled the Delhi Stock Exchange (DSE) sensitive index to close higher yesterday. The overseas and domestic financial institutions bought heavily. The DSE sensitive index surged 8.16 points to close at 743.75 points.

Speculators who made late short-selling were seen covering up positions following a rebound in heavy-weighted stocks, brokers said. They said, while foreign funds built-up fresh positions in ITC, HLL, Nestle India and SmithKline Beecham, UTI, SBI, MTNL and automobile stocks.

ITC traded heavily through as FIIs remained major buyers, followed by huge short-covering by bear operators and recovered sharply by 13.25 to close at Rs 627.25.

 

HLL rallied to Rs 1,537 before winding up at Rs 1,532.50, still a recovery of Rs 6.75. Nestle India and SmithKline Beecham also attracted buying support gaining Rs 14.40 and Rs 1.25 at Rs 331.80 and Rs 381.25 respectively. RIL, Tata Loco, LML, Hero Honda, Bajaj Auto, L&T, MTNL, Tisco, ACC and BSES also looked up.