Values Shoot Up

The Delhi Stock Exchange (DSE) benchmark sensitive index shot up by 17.42 points or nearly 2 per cent to close at 838.14 points as heavy weighted stocks prices registered another spectacular rally yesterday on aggressive buying by foreign and domestic financial institutions coupled with speculative buying.

Stock brokers feel the fresh rally in share prices was mainly triggered off on reports that Reliance Industries, might announce a bonus share issue and ITC, parent company of British American Tobacco (BAT), is likely to enhance its stake in the company. The buying wave was so strong that even selling at higher levels by profit takers was easily absorbed, according to some stock brokers. FIIs were major buyers in multi-national and some blue chip company stocks throughout the day.

 

ITC was the prominent gainer on sustained buying by FIIs and speculators coupled with higher Bombay market trends. Its prices flared up by Rs 27.25 to close at Rs 520.60. HLL zoomed up by Rs 48 to close at Rs 1288 on FII and domestic financial institutions buying.