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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (4934)7/5/1999 8:55:00 PM
From: Mohan Marette  Read Replies (1) of 12475
 
'Bull-run in Mumbai'- Sensex jumps 112 points, 14 months high

business-standard.com

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Sensex jumps 112 points, 14 months high
(Source:Probity Research)

The Bombay Stock Exchange viewed the joint statement of Pakistani Prime Minister Nawaz Sharif and American President Bill Clinton with optimism and pushed the Sensex up by 112 points. As pointed out in the morning cyclical stocks rose. A large number of stocks moved up and there were hardly any stocks that lost ground.

Market is hoping that the Sharif-Clinton meet will lead to a long-term solution of the Kashmir problem. Though the militants based in Pakistan have rejected the statement made by Sharif and have said that they would not withdraw from Kashmir. Even the Pakistani opposition has rejected the statement and called for a black-day in Pakistan tomorrow.

However the Karachi Stock Exchange reflected the optimism that Indian traders exhibited on the Indo-Pak imbroglio. The KSE 100 INDX surged 31.36 points or 2.84 % to close at 1136.18 points.

Stocks that gained on the BSE were..


Stocks           Closing Price   Amount Change       % Change 
Asian Hotels           158.20        8.20               8.0 
Bank of Baroda          70.40        5.20               8.0 
Dabur                  668.50       49.50               8.0 
ESAB                    99.60        7.35               8.0 
Essel Packaging        302.90       22.40               8.0 
Grasim                 242.90       17.95               8.0 
Lakme Ltd              220.60       16.30               8.0 
Siemens                242.80       17.95               8.0 
Wartsila               308.90       22.85               8.0 
Andhra Valley           55.30        4.05               7.9 
Ashok Leyland           86.90        6.35               7.9 
Godrej Soaps            35.80        2.60               7.8 
Hotel Leela             39.00        2.55               7.0 
HDFC                  2409.00      156.20               7.1 
LIC Hsg Fin             38.50        2.80               7.8 
Nag. Fert               19.90        1.25               7.0 
TVS Suzuki             530.00       31.00               7.3 
Videocon Intl           65.80       15.50               7.3 

Stocks that lost on the BSE were..

Stocks              Closing Price  Amount Change      % Change 
BPL                     487.00     (26.50)              -4.50 
NIIT                   2139.95     (45.05)              -2.06 
Bajaj Auto              520.00     (10.00)              -1.89 
CESC                     34.25     ( 1.10)              -3.11 
GE Shipping              23.70      (0.60)              -2.47

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