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Sensex recovers 67 points
MUMBAI,
APRIL 12.
Buoyed by better-than-expected earnings by MphasiS BFL and expectations of excellent working by the steel sector, the Sensex snapped the three-session losing streak and bounced back by 67 points on hectic buying support from domestic mutual funds and operators.
The BSE benchmark 30-share index opened on a promising note at 6407.39 and gradually moved upwards to the intra-day high of 6472.04 before ending the day at 6464.61 as against yesterday's close of 6397.52, a net rise of 67.09 points or 1.05 per cent. The Sensex had fallen by 208.89 points or 3.16 per cent in the last three trading sessions.
Crediting the initial firmness to MphasiS' announcement this morning of impressive quarterly results, brokers said the market witnessed a smart rally under the leadership of the steel sector on strong expectations that steel companies would beat market projections for the fourth quarter. — PTI
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