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As peace prospect continues to loom over Kargil, Sensex gains 36 points, inches up to 4400

Pakistan's decision to appeal to Islamic militants in Kashmir to withdraw from Kargil has boosted the sentiment at the Bombay Stock Exchange, with share prices registering smart gains on speculative buying spree by operators, pushing the Sensex up by 36 points on the last day of weekly settlement today.

Reflecting the uptrend, the 30-share BSE Sensex opened at 4353.83 points, touched the day's high of 4387.61 points, a low of 4345.33 points, before closing at 4362.87 points, showing a net gain of 36.46 points or 0.84 per cent from the previous close of 4326.41 points.

According to dealers, pharma and auto ancillary counters were at the forefront among the gainers while the infotech counters reported decline on selling pressure. It was observed that the market was being driven by the operators on the positive news from Islamabad, indicating end of Kargil conflict, said a leading stock broker.

Foreign institutional investors reportedly made purchases in Telco, L&T and M&M while institutionalised deals were seen at the counters like Burroughs Welcome, Gujarat Industries Power, HDFC, Hindustan Lever, Pfizer, Pentafour Software, Sterlite and Telco, dealers said.

The broad-based BSE-100 index rose by 17.65 points to 1887.86 points as against the previous close of 1870.21 points.

UNI

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