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Sensex high as Economic Survey project 8 pc GDP growth

Written by: Staff

Mumbai, Feb 27: The 30-share Bombay Stock Exchange (BSE) Sensitive Index (Sensex) was trading with a gain of 70 points at 10,271 at 1353 hrs as compared to last close of 10,200 on Friday.

The markets have not responded in a significant manner so far to the eight per cent GDP growth rate expectations in the Economic Survey released today (Feb 27, 2006). The Survey has painted a rosy picture of the economy in the current fiscal.

However, the key index touched a high of 10,295 as the details of the Survey trickled in.

The key index opened higher this morning at 10,214 points as compared to last close at 10,200.

Moreover, the equity market has been bullish since morning on the back of robust foreign fund inflow of Rs 761 crore on Thursday.

BSE Consumer Durbales index was down by 2.08 per cent led by four per cent fall in Videocon Industries and two per cent in Titan Industries. Whirpool, Blue Star and Samtel Colour were the other losers.

BSE Infotech indices were up with good gains of around two per cent led by good gains in index heavy weight Infosys Technologies and Satyam Computers.

Top Sensex gainers were Infosys, Satyam Computer, HDFC Bank, Gujarat Ambuja Cements, Grasim Industries, Maruti, HDFC, ITC, TCS and ACC.

Top losers included Bajaj Auto, Hindustan Lever, Bharti Tele, Reliance Industries, Tata Steel, NTPC, Reliance Energy, Ranbaxy and ONGC.

The 50-share National Stock Exchange (NSE) S&P CNX Nifty index opened flat at 3,050. The index surged to a high of 3,070 and was trading at 3,061 with a gain of 11 points at 1352 hrs.

GVK Power and Infrastructure was listed on the bourses today with a premium of 21 per cent but the shares later dipped below issue price of Rs 310 to Rs 304.55.

The Rs 10 share of Rs 310 value of GVK Power opened at Rs 376 on the National Stock Exchange (NSE) and touched a high of Rs 388 and a low of Rs 305.25 before trading at Rs 327.40 at 1200 hours.

The volumes were high with more than 86.86 lakh shares traded so far.

On the Bombay Stock Exchange (BSE), the GVK scrip opened at Rs 350 per share and touched a high of Rs 400 and a low of Rs 304.55. It was trading at Rs 327.35 per share at 1156 hrs with 61.15 lakh shares traded so far on the BSE.


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