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Sensex opens firm on the back of RIL rally at BSE
Thursday, June 26 2003 11:44 Hrs (IST)

Mumbai: Powered by a strong start by the top heavyweight Reliance Industries Ltd (RIL), the SENSEX opened remarkably up and later rallied further during morning trading on the Bombay Stock Exchange (BSE) on June 26 on fresh buying from operators as well as foreign funds.

RIL and banking stocks continued to attract heavy buying interest, mainly from operators while Foreign Institutional Investors (FIIs) seemed to be turning scrip specific and were believed to be making investments in select heavy weighted stocks, brokers said.

The BSE SENSITIVE INDEX opened firm at 3528.28 as against June 25's close of 3517.27 and later rose to a high at 3544.15 before being quoted at 3543.75 at 10.30 hours (IST).

Meanwhile, a setback in New York stocks did not have any impact on the Indian market. Indices on Wall Street fell moderately even as the Federal Reserve on June 25 cut US interest rates by a quarter percentage point.

The market has turned completely operator driven with bulls tightening their control, brokers added.

BHEL, HCL Tech, Infosys Tech, MTNL, SBI, Zee Telefilms and a few others were quoted up on fresh buying.

PT

I

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