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Friday, Aug 20, 2004

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Sensex up 85.37 on all-round buying

Our Bureau

Mumbai , Aug. 19

IN a sharp turnaround in sentiment, all-round buying saw the market shrug of its losses with the BSE Sensex ending the day 85.37 points higher (a 1.69 per cent gain) at 5,123.65.

The benchmark index had lost 64.66 points on Wednesday, its lowest close in four weeks. The NSE Nifty ended the day at 1,609.20, up 27.40 points higher than its previous close.

Tech stocks paved the way towards recovery on the back of strengthening of the global markets, in particular the tech-heavy Nasdaq. Expectations of a strong debut by TCS next week has added to the feel-good factor in the sector. Aiding the uptrend was the sustained interest or bargain hunting in cement, steel and paper counters, which were riding on hopes of a firm price trend.

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