The Hindu Business Line : Continued value buying pushes Sensex up by 112 points

THE stock markets held onto the gains of Thursday and effected another 112-point gain on the Sensex. Continued value buying, especially by domestic mutual funds, helped sustain the rally.

The indices opened tentatively, but subsequently gained thanks to the strong rally in scrips such as BHEL, L&T, Reliance and SBI.

The Sensex closed trade for the week at 6605.04, a 112.22-point gain, up 1.73 per cent from Thursday's close. Overall, the Sensex has gained 237 points in the last three trading sessions.

The Nifty posted a 32-point gain on Friday to close at 2067.65. The CNX Mid Cap index also had a good run at the bourses, and appreciated by 2.67 per cent and ended trade at 2856.60.

This surge in the bourses was not supported by big volumes.

At the Bombay Stock Exchange, 18.65 crore shares worth Rs 1,884.77 crore were traded, while at the National Stock Exchange 29.76 crore shares worth Rs 4,498.46 crore were traded.

The market breadth was positive, with 1,964 scrips advancing and 368 declining at the BSE. The NSE traced a similar ratio with 718 advances and 94 declines.

Though the markets have been appreciating on shaky ground, brokers say that, with three days of closing in the green, the sentiment is inching towards the positive.

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