June 11, 2002	Tuesday	Rabi-ul-Awwal 29, 1423

MUMBAI, June 10: Share prices closed 1.9 per cent up on the Bombay Stock Exchange Monday on active trader and fund buying as the market saw a reduction in tensions between India and Pakistan, dealers said.

The 30-share BSE sensitive index rose 61.73 points to close at 3,279.49.

Dealers said Monday’s buying was largely trader driven amid low volumes, while funds remained selective buyers.

They said selling pressure which had been seen in the last few sessions appeared to be easing.

The selling was led as India-Pakistan tensions mellowed further after Armitage’s visit, said Vijay Tilakraj, dealer at KJMC Capital Market Services.

He said reports of a possible government reforms package for the Unit Trust of India (UTI), the country’s largest mutual fund, also aided market sentiments.

If this happens at least UTI will curb its selling of stocks, Tilakraj said. Other dealers said the present rally could last for a few days.—AFP