Sensex up 59 pts to two-month high

Mumbai, Mar 19 (PTI) Stock market Friday managed modest
gains with a 59-point upward move in the benchmark Sensex,
helped by good buying in heavyweights like Reliance Industries
and Bharti Airtel, as also positive global cues.

The Bombay Stock Exchange's 30-share barometer rose 58.97
points, or 0.34 per cent, to settle at its two month-peak of
17,578.23 points, the highest closing level since January 18.
On a weekly basis, the Sensex extended gains for the
sixth consecutive week, on the back of continued buying
momentum since early February.
The National Stock Exchange's 50-share Nifty settled with
a net rise of 0.32 per cent at 5,262.80 points.
"The long term view on the market is bullish. In absence
of any concrete domestic trigger, shares will continue to edge
up. Market is waiting for the March quarter results to decide
the next course," SMC Global CMD Subhas Chand Agarwal said.
The market witnessed volatile trading in the early part
of the day, but heavy buying by foreign funds in the last hour
helped it clock a 0.34 per cent gain.
Reliance Industries, which has the maximum weight among
the Sensex firms, rose 1.37 per cent to Rs 1,089.80. Among the
heavyweights, Bharti Airtel led the gain with a four per cent
rally, followed by Reliance Communications and Hero Honda.
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