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Cement stocks propel Sensex up 25 points

The market also witnessed booking of profits in certain counters on account of it being the last day of the trading cycle at the National Stock Exchange, dealers said.

Expecting a rise in cement prices in the near future following revival of the economy, stocks like Gujarat Ambuja, Larsen & Toubro, and Grasim staged a smart rally.

Gujarat Ambuja even hit the upper circuit breaker on sustained buying support from investors, dealers said.

Mahindra & Mahindra and TELCO also firmed up on good buying support.

Mirroring the firm trend, the 30-share BSE Sensitive Index opened at 5034.81 points, touched the day's high of 5076.94 and a low of 5022.87, and finally closed at 5057.32, a net gain of 25.54 over yesterday's close of 5031.78 points.

The broad-based BSE-100 index also advanced by 23.92 points to 2377.94. It had closed yesterday at 2354.02 points.

The impressive financial results announced by Satyam Computers and Polaris Software also boosted market sentiments.

Satyam Computers posted a net profit of Rs 307 million in the second quarter ending September 30, 1999, as against Rs 184 million in the corresponding period last year.

Polaris Software registered a whopping 308 per cent increase in net profit at Rs 121 million in the second quarter of the current financial year as against Rs 29 million in the corresponding period last year.

Reflecting the bullish phase, the BSE-200 and Dollex indices also closed higher by 6.28 and 2.17 points at 550.30 and 211.20 points, respectively.

UNI

UNI

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