The Telegraph
Since 1st March, 1999
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Sensex above 5000

Mumbai, Nov. 11: A sharp rally in cement and select PSU shares heaved the sensex over the 5000-mark to close at 5030.65 points, a rise of 32.07 points over the previous close of 4998.57.

Cement shares like Grasim, ACC, Gujarat Ambuja, L&T, Madras Cement and India Cement attracted heavy buying and ended with sharp gains on expectation of rise in cement prices.

According to reports, cement prices in northern parts of the country have edged up by Rs 5-10 per 50 kg.

Grasim gained Rs 32.90 to end at Rs 944.95, GACL increased by Rs 8.15 to Rs 287.25 and ACC added Rs 12.45 to 242.20.

Public sector stocks like Bharat Electronics, Bharat Earth Movers (BEML), Bharat Heavy Electricals (Bhel), Bharat Petroleum, Hindustan Petroleum, Shipping Corporation, Neyveli Lignite and Oil and Natural Gas Corporation were in keen demand on the bourses today.

Bhel gained Rs 4.30 to Rs 456.85 and Bharat Electronics by Rs 16.15 to Rs 498.65, while BEML was up by Rs 10.10 to Rs 253.80.

“The undertone was primarily cautious,” a dealer said. Market sentiments were affected by fears that foreign institutional investors might slacken their investments by the year-end in view of likely redemption pressures in December.

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