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Sensex recovers 14 points


MUMBAI, MARCH 30. After the overnight sharp plunge of 143 points, the Sensex today witnessed a swing of about 79 points before ending with a moderate gain of 14 points in highly volatile trading largely attributed to the approaching end of current derivatives contract.

Domestic mutual funds reportedly were making selective purchases in a bid to jack up the net asset value of units at the fiscal year-end while operators engaged in squaring up positions ahead of expiry of the March contract in the Futures and Options segment on Thursday.

The BSE benchmark 30-share index saw fluctuated between 6400.07 and 6321.31 after a promising start at 6371.40, and ended at 6381.40 against yesterday's close of 6367.86, a gain of 13.54 points.

The market, however, remained cautious in the light of a slowdown in foreign institutional investor activity coupled with fears that high crude oil prices could hamper economic growth. The Dow Jones Industrial Average and the Nasdaq Composite Index had also ended down by 79.95 points and 18.64 points yesterday. Key counters such as SBI, ONGC, Bajaj, Dr. Reddy's, HDFC, Hero Honda, ITC, Maruti and Tata Power recorded gains on fairly heavy buying support. — PTI

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