Values Recover

Stock prices, particularly that of automobile companies, recovered to close higher on the Delhi Stock Exchange (DSE) yesterday on fresh buying by speculators coupled with FII purchases. Selective purchases by domestic financial institutions, mainly UTI also pushed up prices, stock brokers said. Yesterday being the first session of a new settlement speculative buying emerged at current levels, brokers said. Reports of rising Asian stock markets also had a positive impact.

The DSE sensitive index gained 2.78 points to close at 723.75 points. Bajaj Auto ended Rs 11.75 higher at Rs 508.05, Telco rebounded to Rs 236.40 ending at Rs 233.90, a gain of Rs 10.65, Hero Honda Motors rose Rs 5.55 to Rs 728.55. LML was in bullish form, largely due to the companys strong fundamentals. It shot up Rs 6.40 to close at Rs 104.15. SBI, RIL, HLL, MTNL and Indian Rayon also firmed up on fresh buying. In the non-specified group BPL, Colgate, HDFC Banks, Tata Tea, Rel Cap and BoB made some progress. The undercurrent was somewhat mixed and volume of business satisfactory.