BOMBAY (PTI): The stock market has regained its strength after Sept.29 slump on renewed bull support coupled with Foreign Institutional’ Investors (FIl) buying:
The market has bounced back following the governments assurance that the interest of bonafide investors would be protected. The meeting between the president of broker’s forum, M.G.Damani and the officials of finance ministry’ was held Wednesday and they had a fruitful discussion regurding the tainted shares issue.
The foreign institutional investors are also back in the ring and they were purchasing shares of Fera companies and growth oriented shares,
The sensitive index has once: again crossed the 2700 mark and it Recovered by 23.33 points to” 2709.64. The broad based national index went up by 12.24 points to 1305.70,
After a higher beginning, equities rallied further on persistent buying. Majority of shares finished at the day’s best levels and the gains were more sharp in actively traded index based strips. The volume of business was moderate and the undercurrent was firm. In forward list, prominent serips like reliance, ACC, Tisco, Grasim, Chochin Ref,, Baroda Rayon, Glaxo, HDFC, ICICI, JP Industries, ICI LTD, Century, Atlas Copco and Seiet Surged ahead on fresh buying, However, a few Scrips like H.Lever, Indian Rayon and larsen suffered fresh losses.
Article extracted from this publication >> October 8, 1993
